Shares of Larimar Therapeutics, Inc. (NASDAQ:LRMR – Get Free Report) have been assigned an average rating of “Buy” from the eleven research firms that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, seven have given a buy recommendation and three have assigned a strong buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $12.5714.
LRMR has been the topic of several analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Larimar Therapeutics in a report on Friday, July 17th. Citigroup restated a “buy” rating on shares of Larimar Therapeutics in a report on Tuesday, June 30th. JPMorgan Chase & Co. began coverage on Larimar Therapeutics in a research report on Wednesday, May 27th. They set an “overweight” rating and a $9.00 price target on the stock. Wall Street Zen raised Larimar Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 16th. Finally, Wedbush lowered their price objective on Larimar Therapeutics from $12.00 to $11.00 and set an “outperform” rating for the company in a research report on Wednesday, August 5th.
Read Our Latest Stock Report on LRMR
Larimar Therapeutics Stock Performance
Larimar Therapeutics (NASDAQ:LRMR – Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The company reported ($0.30) earnings per share for the quarter, topping the consensus estimate of ($0.38) by $0.08. As a group, analysts forecast that Larimar Therapeutics will post -1.5 EPS for the current year.
Insider Activity
In other news, Director Thomas Edward Hamilton bought 50,000 shares of the firm’s stock in a transaction that occurred on Monday, July 6th. The shares were bought at an average cost of $3.34 per share, with a total value of $167,000.00. Following the completion of the purchase, the director directly owned 714,798 shares in the company, valued at $2,387,425.32. This represents a 7.52% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 4.00% of the company’s stock.
Institutional Investors Weigh In On Larimar Therapeutics
Several institutional investors have recently added to or reduced their stakes in LRMR. Deerfield Management Company L.P. raised its stake in shares of Larimar Therapeutics by 44.2% during the third quarter. Deerfield Management Company L.P. now owns 30,606,974 shares of the company’s stock valued at $98,861,000 after acquiring an additional 9,375,000 shares during the last quarter. Blue Owl Capital Holdings LP grew its stake in shares of Larimar Therapeutics by 16.6% in the fourth quarter. Blue Owl Capital Holdings LP now owns 6,823,690 shares of the company’s stock worth $25,998,000 after purchasing an additional 970,650 shares during the last quarter. BlackRock Inc. bought a new stake in shares of Larimar Therapeutics in the second quarter worth about $17,318,000. Millennium Management LLC increased its holdings in Larimar Therapeutics by 7.2% during the 4th quarter. Millennium Management LLC now owns 5,206,364 shares of the company’s stock valued at $19,836,000 after purchasing an additional 349,533 shares during the period. Finally, Opaleye Management Inc. increased its holdings in Larimar Therapeutics by 114.7% during the 2nd quarter. Opaleye Management Inc. now owns 4,110,000 shares of the company’s stock valued at $11,878,000 after purchasing an additional 2,195,923 shares during the period. Hedge funds and other institutional investors own 91.92% of the company’s stock.
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. Larimar Therapeutics, Inc is based in Bala Cynwyd, Pennsylvania.
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