Larimar Therapeutics, Inc. (NASDAQ:LRMR) Receives $12.57 Consensus PT from Brokerages

Larimar Therapeutics, Inc. (NASDAQ:LRMR) has been assigned a consensus recommendation of “Buy” from the eleven brokerages that are covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, seven have given a buy recommendation and three have given a strong buy recommendation to the company. The average 1 year price target among analysts that have covered the stock in the last year is $12.5714.

A number of equities analysts have recently commented on the company. JPMorgan Chase & Co. assumed coverage on Larimar Therapeutics in a report on Wednesday, May 27th. They issued an “overweight” rating and a $9.00 target price for the company. Robert W. Baird decreased their price target on Larimar Therapeutics from $7.00 to $5.00 and set an “outperform” rating on the stock in a report on Tuesday, June 30th. Weiss Ratings restated a “sell (d-)” rating on shares of Larimar Therapeutics in a report on Friday, July 17th. Wedbush lowered their price target 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. Finally, HC Wainwright started coverage on shares of Larimar Therapeutics in a research note on Thursday, July 2nd. They set a “buy” rating and a $10.00 price objective for the company.

Insider Buying and Selling at Larimar Therapeutics

In other news, Director Thomas Edward Hamilton bought 50,000 shares of the stock in a transaction dated Monday, July 6th. The stock was purchased at an average price of $3.34 per share, for a total transaction of $167,000.00. Following the acquisition, the director owned 714,798 shares of the company’s stock, valued at $2,387,425.32. The trade was a 7.52% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 4.00% of the company’s stock.

Institutional Trading of Larimar Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LRMR. Pallas Capital Advisors LLC bought a new stake in Larimar Therapeutics in the second quarter worth about $31,000. BNP Paribas Financial Markets grew its stake in shares of Larimar Therapeutics by 75.8% during the third quarter. BNP Paribas Financial Markets now owns 10,146 shares of the company’s stock valued at $33,000 after buying an additional 4,376 shares during the last quarter. Coldstream Capital Management Inc. purchased a new stake in shares of Larimar Therapeutics in the third quarter worth approximately $57,000. SG Americas Securities LLC purchased a new stake in shares of Larimar Therapeutics in the fourth quarter worth approximately $60,000. Finally, Walleye Trading LLC bought a new stake in shares of Larimar Therapeutics during the 2nd quarter worth approximately $61,000. 91.92% of the stock is owned by hedge funds and other institutional investors.

Larimar Therapeutics Trading Down 3.6%

Shares of NASDAQ:LRMR opened at $4.01 on Thursday. The company has a market cap of $416.56 million, a price-to-earnings ratio of -2.06 and a beta of 0.81. Larimar Therapeutics has a 12 month low of $2.71 and a 12 month high of $6.42. The company has a 50-day moving average price of $3.65 and a 200 day moving average price of $4.00.

Larimar Therapeutics (NASDAQ:LRMR) last issued its quarterly earnings data 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, equities analysts forecast that Larimar Therapeutics will post -1.5 EPS for the current year.

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.