Larimar Therapeutics (NASDAQ:LRMR) Upgraded to Strong-Buy at Truist Financial

Larimar Therapeutics (NASDAQ:LRMR) was upgraded by equities research analysts at Truist Financial to a “strong-buy” rating in a report issued on Wednesday,Zacks.com reports.

LRMR has been the topic of a number of other reports. Lifesci Capital raised Larimar Therapeutics to a “strong-buy” rating in a research note on Tuesday, February 24th. Wedbush increased their price objective on Larimar Therapeutics from $12.00 to $13.00 and gave the company an “outperform” rating in a research note on Friday, March 20th. Citigroup raised their target price on shares of Larimar Therapeutics from $12.00 to $14.00 and gave the stock a “buy” rating in a report on Wednesday, February 25th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Larimar Therapeutics in a research note on Thursday, January 22nd. Finally, Leerink Partners upgraded shares of Larimar Therapeutics to a “strong-buy” rating in a report on Monday, January 5th. Three analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $16.50.

Larimar Therapeutics Trading Up 2.4%

LRMR opened at $4.68 on Wednesday. The company has a market cap of $486.16 million, a P/E ratio of -2.12 and a beta of 0.91. The business’s 50-day moving average price is $4.03 and its 200-day moving average price is $3.94. Larimar Therapeutics has a 12 month low of $1.61 and a 12 month high of $6.42.

Larimar Therapeutics (NASDAQ:LRMR) last released its earnings results on Thursday, March 19th. The company reported ($0.73) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.43) by ($0.30). Equities research analysts forecast that Larimar Therapeutics will post -1.15 earnings per share for the current fiscal year.

Insider Transactions at Larimar Therapeutics

In other Larimar Therapeutics news, Director James E. Flynn purchased 5,000,000 shares of the stock in a transaction on Friday, February 27th. The stock was acquired at an average price of $5.00 per share, with a total value of $25,000,000.00. Following the transaction, the director directly owned 10,622,957 shares of the company’s stock, valued at approximately $53,114,785. This trade represents a 88.92% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 4.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Larimar Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of LRMR. BNP Paribas Financial Markets increased 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 period. B.O.S.S. Retirement Advisors LLC purchased a new stake in Larimar Therapeutics in the third quarter worth $41,000. Coldstream Capital Management Inc. purchased a new stake in Larimar Therapeutics in the third quarter worth $57,000. Wealth Enhancement Advisory Services LLC boosted its holdings in Larimar Therapeutics by 33.9% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 18,248 shares of the company’s stock valued at $59,000 after acquiring an additional 4,619 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new position in Larimar Therapeutics during the 4th quarter valued at $60,000. Hedge funds and other institutional investors own 91.92% of the company’s stock.

About Larimar Therapeutics

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.