Guggenheim Reiterates “Buy” Rating for Larimar Therapeutics (NASDAQ:LRMR)

Guggenheim reaffirmed their buy rating on shares of Larimar Therapeutics (NASDAQ:LRMR) in a report published on Tuesday morning,Benzinga reports. The brokerage currently has a $26.00 price objective on the stock.

Several other equities research analysts have also commented on LRMR. Robert W. Baird decreased their price objective on shares of Larimar Therapeutics from $13.00 to $10.00 and set an “outperform” rating on the stock in a research report on Tuesday. Truist Financial assumed coverage on shares of Larimar Therapeutics in a report on Wednesday, January 29th. They issued a “buy” rating and a $18.00 price target on the stock. Finally, HC Wainwright raised 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. Eleven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Larimar Therapeutics presently has an average rating of “Buy” and an average price target of $20.22.

Larimar Therapeutics Trading Up 1.3 %

Shares of Larimar Therapeutics stock opened at $2.31 on Tuesday. The company has a 50-day moving average of $3.14 and a two-hundred day moving average of $5.20. Larimar Therapeutics has a 12-month low of $2.22 and a 12-month high of $11.20. The stock has a market cap of $147.39 million, a PE ratio of -2.01 and a beta of 0.99.

Larimar Therapeutics (NASDAQ:LRMR) last issued its quarterly earnings data on Monday, March 24th. The company reported ($0.45) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.29) by ($0.16). On average, sell-side analysts forecast that Larimar Therapeutics will post -1.15 EPS for the current fiscal year.

Institutional Trading of Larimar Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Wellington Management Group LLP raised its stake in Larimar Therapeutics by 10.3% during the fourth quarter. Wellington Management Group LLP now owns 116,067 shares of the company’s stock worth $449,000 after purchasing an additional 10,821 shares during the period. Velan Capital Investment Management LP acquired a new stake in shares of Larimar Therapeutics during the 4th quarter worth $70,000. Sphera Funds Management LTD. raised its position in shares of Larimar Therapeutics by 9.9% in the 4th quarter. Sphera Funds Management LTD. now owns 455,604 shares of the company’s stock worth $1,763,000 after buying an additional 41,126 shares during the period. ProShare Advisors LLC acquired a new position in Larimar Therapeutics in the fourth quarter valued at $58,000. Finally, Janus Henderson Group PLC boosted its holdings in Larimar Therapeutics by 15.7% in the fourth quarter. Janus Henderson Group PLC now owns 6,443,286 shares of the company’s stock valued at $24,936,000 after acquiring an additional 876,431 shares during the last quarter. 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.