Larimar Therapeutics (NASDAQ:LRMR) Receives Market Outperform Rating from JMP Securities

JMP Securities reaffirmed their market outperform rating on shares of Larimar Therapeutics (NASDAQ:LRMR) in a report released on Tuesday, Benzinga reports. They currently have a $25.00 price objective on the stock.

Several other brokerages also recently commented on LRMR. Citigroup increased their price objective on Larimar Therapeutics from $4.50 to $10.00 and gave the stock a buy rating in a research note on Tuesday, February 13th. Leerink Partnrs reaffirmed an outperform rating on shares of Larimar Therapeutics in a report on Wednesday, April 3rd. SVB Leerink assumed coverage on Larimar Therapeutics in a report on Wednesday, April 3rd. They issued an outperform rating and a $25.00 target price for the company. Finally, Lifesci Capital reaffirmed an outperform rating on shares of Larimar Therapeutics in a report on Tuesday, February 20th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of Buy and an average target price of $21.33.

Larimar Therapeutics Stock Performance

Shares of LRMR stock opened at $7.08 on Tuesday. The stock’s fifty day simple moving average is $7.39 and its 200 day simple moving average is $6.49. Larimar Therapeutics has a twelve month low of $2.18 and a twelve month high of $13.68.

Larimar Therapeutics (NASDAQ:LRMR) last announced its earnings results on Thursday, May 9th. The company reported ($0.27) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.03). On average, equities analysts anticipate that Larimar Therapeutics will post -1.29 EPS for the current year.

Hedge Funds Weigh In On Larimar Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the company. Pale Fire Capital SE bought a new position in Larimar Therapeutics during the third quarter valued at $48,000. SG Americas Securities LLC boosted its holdings in shares of Larimar Therapeutics by 27.3% in the fourth quarter. SG Americas Securities LLC now owns 14,159 shares of the company’s stock worth $64,000 after acquiring an additional 3,039 shares during the period. EntryPoint Capital LLC bought a new position in shares of Larimar Therapeutics in the first quarter worth $106,000. Virtu Financial LLC bought a new position in shares of Larimar Therapeutics in the first quarter worth $133,000. Finally, Fred Alger Management LLC boosted its holdings in shares of Larimar Therapeutics by 22.5% in the third quarter. Fred Alger Management LLC now owns 116,269 shares of the company’s stock worth $459,000 after acquiring an additional 21,331 shares during the period. 91.92% of the stock is owned by institutional investors.

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.