Larimar Therapeutics’ (LRMR) “Buy” Rating Reiterated at Guggenheim

Larimar Therapeutics (NASDAQ:LRMR)‘s stock had its “buy” rating reiterated by stock analysts at Guggenheim in a research note issued on Tuesday,Benzinga reports. They presently have a $26.00 target price on the stock.

Other analysts have also recently issued reports about the stock. Citigroup reaffirmed a “buy” rating on shares of Larimar Therapeutics in a research note on Tuesday, March 25th. HC Wainwright raised their price objective on Larimar Therapeutics from $15.00 to $16.00 and gave the stock a “buy” rating in a report on Tuesday, March 25th. Finally, Robert W. Baird dropped their target price on Larimar Therapeutics from $13.00 to $10.00 and set an “outperform” rating for the company in a research note on Tuesday, March 25th. Eight investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $19.67.

Larimar Therapeutics Trading Down 6.6%

Larimar Therapeutics stock opened at $2.42 on Tuesday. The stock has a 50-day moving average price of $2.32 and a 200 day moving average price of $2.96. Larimar Therapeutics has a 52 week low of $1.61 and a 52 week high of $11.20. The stock has a market cap of $154.95 million, a PE ratio of -1.62 and a beta of 0.79.

Larimar Therapeutics (NASDAQ:LRMR) last released its quarterly earnings results on Wednesday, April 30th. The company reported ($0.46) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.42) by ($0.04). On average, equities analysts predict that Larimar Therapeutics will post -1.15 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Monimus Capital Management LP purchased a new stake in Larimar Therapeutics during the fourth quarter valued at about $182,000. Fi3 FINANCIAL ADVISORS LLC increased its position in shares of Larimar Therapeutics by 16.7% in the fourth quarter. Fi3 FINANCIAL ADVISORS LLC now owns 23,798 shares of the company’s stock worth $92,000 after acquiring an additional 3,411 shares in the last quarter. American Century Companies Inc. raised its stake in shares of Larimar Therapeutics by 32.8% in the 4th quarter. American Century Companies Inc. now owns 56,294 shares of the company’s stock valued at $218,000 after acquiring an additional 13,891 shares during the period. AXQ Capital LP acquired a new position in shares of Larimar Therapeutics during the 4th quarter valued at $91,000. Finally, EntryPoint Capital LLC boosted its position in Larimar Therapeutics by 197.7% during the 4th quarter. EntryPoint Capital LLC now owns 54,281 shares of the company’s stock worth $210,000 after purchasing an additional 36,045 shares during the period. 91.92% of the stock is owned by hedge funds and other institutional investors.

Larimar Therapeutics Company Profile

Larimar Therapeutics, Inc, a clinical-stage biotechnology company, focuses on developing treatments for rare diseases using its novel cell penetrating peptide technology platform. Its lead product candidate is CTI-1601, which is in Phase 2 OLE clinical trial for the treatment of Friedreich's ataxia, a rare, progressive and fatal genetic disease.