Larimar Therapeutics, Inc. (NASDAQ:LRMR) Receives Average Rating of “Buy” from Analysts

Larimar Therapeutics, Inc. (NASDAQ:LRMR) has received a consensus recommendation of “Buy” from the eleven ratings firms that are covering the stock, Marketbeat Ratings reports. Ten equities research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $20.43.

A number of brokerages have weighed in on LRMR. Wedbush initiated coverage on shares of Larimar Therapeutics in a research report on Thursday, October 3rd. They set an “outperform” rating and a $22.00 price target for the company. Oppenheimer began coverage on shares of Larimar Therapeutics in a research report on Wednesday, October 16th. They issued an “outperform” rating and a $26.00 price target for the company. Baird R W raised Larimar Therapeutics to a “strong-buy” rating in a research report on Wednesday, September 4th. William Blair restated an “outperform” rating on shares of Larimar Therapeutics in a report on Tuesday, November 19th. Finally, Robert W. Baird began coverage on Larimar Therapeutics in a research note on Wednesday, September 4th. They issued an “outperform” rating and a $16.00 price objective for the company.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in LRMR. Bank of New York Mellon Corp lifted its position in shares of Larimar Therapeutics by 57.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 134,877 shares of the company’s stock valued at $978,000 after acquiring an additional 49,102 shares in the last quarter. Rhumbline Advisers grew its position in Larimar Therapeutics by 74.6% in the second quarter. Rhumbline Advisers now owns 54,936 shares of the company’s stock worth $398,000 after acquiring an additional 23,475 shares in the last quarter. Ballentine Partners LLC bought a new position in Larimar Therapeutics during the second quarter valued at about $137,000. Thoroughbred Financial Services LLC bought a new stake in Larimar Therapeutics during the second quarter worth approximately $94,000. Finally, Squarepoint Ops LLC boosted its position in Larimar Therapeutics by 174.6% during the second quarter. Squarepoint Ops LLC now owns 29,858 shares of the company’s stock worth $216,000 after purchasing an additional 69,858 shares during the period. 91.92% of the stock is currently owned by institutional investors.

Larimar Therapeutics Stock Down 6.0 %

LRMR opened at $6.11 on Friday. The firm’s fifty day simple moving average is $7.18 and its two-hundred day simple moving average is $7.75. Larimar Therapeutics has a 52-week low of $3.74 and a 52-week high of $13.68. The company has a market cap of $389.88 million, a price-to-earnings ratio of -5.31 and a beta of 0.86.

Larimar Therapeutics (NASDAQ:LRMR) last issued its earnings results on Wednesday, October 30th. The company reported ($0.24) EPS for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.13. During the same quarter last year, the firm earned ($0.21) earnings per share. On average, research analysts forecast that Larimar Therapeutics will post -1.16 EPS for the current year.

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.