Guggenheim Reaffirms Buy Rating for Larimar Therapeutics (NASDAQ:LRMR)

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

Other analysts have also recently issued research reports about the stock. HC Wainwright lifted their price objective on shares of Larimar Therapeutics from $15.00 to $16.00 and gave the stock a “buy” rating in a research note on Tuesday. Robert W. Baird cut their price target on Larimar Therapeutics from $13.00 to $10.00 and set an “outperform” rating on the stock in a research note on Tuesday. Finally, Truist Financial started coverage on Larimar Therapeutics in a research report on Wednesday, January 29th. They set a “buy” rating and a $18.00 target price on the stock. Eleven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Larimar Therapeutics presently has an average rating of “Buy” and a consensus target price of $20.22.

Larimar Therapeutics Stock Up 1.5 %

Shares of NASDAQ:LRMR traded up $0.04 during midday trading on Tuesday, reaching $2.32. 160,375 shares of the company were exchanged, compared to its average volume of 610,044. The firm has a market cap of $147.71 million, a PE ratio of -2.01 and a beta of 0.99. The stock has a fifty day simple moving average of $3.16 and a two-hundred day simple moving average of $5.24. Larimar Therapeutics has a fifty-two week low of $2.22 and a fifty-two week high of $11.20.

Larimar Therapeutics (NASDAQ:LRMR) last posted its quarterly earnings data on Monday, March 24th. The company reported ($0.45) EPS for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.16). As a group, analysts forecast that Larimar Therapeutics will post -1.15 earnings per share for the current year.

Hedge Funds Weigh In On Larimar Therapeutics

Large investors have recently modified their holdings of the business. Wellington Management Group LLP raised its holdings in Larimar Therapeutics by 10.3% during the 4th quarter. Wellington Management Group LLP now owns 116,067 shares of the company’s stock valued at $449,000 after acquiring an additional 10,821 shares during the period. Velan Capital Investment Management LP bought a new stake in Larimar Therapeutics during the fourth quarter worth approximately $70,000. Sphera Funds Management LTD. lifted its holdings in Larimar Therapeutics by 9.9% during the 4th quarter. Sphera Funds Management LTD. now owns 455,604 shares of the company’s stock valued at $1,763,000 after buying an additional 41,126 shares in the last quarter. ProShare Advisors LLC purchased a new stake in shares of Larimar Therapeutics in the fourth quarter valued at approximately $58,000. Finally, Janus Henderson Group PLC grew its holdings in Larimar Therapeutics by 15.7% during the 4th quarter. Janus Henderson Group PLC now owns 6,443,286 shares of the company’s stock worth $24,936,000 after acquiring an additional 876,431 shares in the last quarter. 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.