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

Guggenheim restated their buy rating on shares of Larimar Therapeutics (NASDAQ:LRMR - Free Report) in a research report released on Tuesday morning,Benzinga reports. They currently have a $26.00 target price on the stock.

Several other equities analysts also recently commented on LRMR. HC Wainwright upped their price objective on shares of Larimar Therapeutics from $15.00 to $16.00 and gave the company a "buy" rating in a research note on Tuesday. Robert W. Baird dropped their price objective on Larimar Therapeutics from $13.00 to $10.00 and set an "outperform" rating for the company in a report on Tuesday. Finally, Truist Financial assumed coverage on Larimar Therapeutics in a research report on Wednesday, January 29th. They issued a "buy" rating and a $18.00 price objective on the stock. Eleven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $20.22.

Larimar Therapeutics Stock Performance

LRMR traded down $0.05 on Tuesday, hitting $2.35. 986,346 shares of the company were exchanged, compared to its average volume of 645,138. The firm has a fifty day simple moving average of $3.08 and a two-hundred day simple moving average of $5.12. The stock has a market capitalization of $149.95 million, a PE ratio of -2.04 and a beta of 0.99. Larimar Therapeutics has a 12 month low of $2.19 and a 12 month high of $11.20.

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Larimar Therapeutics (NASDAQ:LRMR - Get Free Report) last issued its earnings results 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, equities analysts expect that Larimar Therapeutics will post -1.15 earnings per share for the current year.

Hedge Funds Weigh In On Larimar Therapeutics

A number of institutional investors have recently added to or reduced their stakes in LRMR. BNP Paribas Financial Markets purchased a new stake in Larimar Therapeutics in the fourth quarter worth about $25,000. Algert Global LLC purchased a new stake in Larimar Therapeutics during the 4th quarter valued at $47,000. China Universal Asset Management Co. Ltd. purchased a new stake in Larimar Therapeutics during the 4th quarter valued at $52,000. Graham Capital Management L.P. bought a new stake in shares of Larimar Therapeutics in the 4th quarter worth $54,000. Finally, ProShare Advisors LLC purchased a new position in shares of Larimar Therapeutics in the fourth quarter worth $58,000. 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.