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

Shares of Larimar Therapeutics, Inc. (NASDAQ:LRMR) have been given an average recommendation of “Buy” by the eleven research firms that are covering the stock, MarketBeat reports. Ten investment analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $20.43.

A number of equities research analysts recently weighed in on LRMR shares. Wedbush began coverage on Larimar Therapeutics in a report on Thursday, October 3rd. They issued an “outperform” rating and a $22.00 price target on the stock. HC Wainwright reissued a “buy” rating and issued a $15.00 target price on shares of Larimar Therapeutics in a report on Monday, December 16th. William Blair reaffirmed an “outperform” rating on shares of Larimar Therapeutics in a research note on Tuesday, November 19th. Finally, Oppenheimer assumed coverage on shares of Larimar Therapeutics in a research note on Wednesday, October 16th. They issued an “outperform” rating and a $26.00 price objective on the stock.

Hedge Funds Weigh In On Larimar Therapeutics

A number of institutional investors have recently modified their holdings of the company. Quarry LP increased its stake in Larimar Therapeutics by 966.7% in the second quarter. Quarry LP now owns 8,000 shares of the company’s stock valued at $58,000 after purchasing an additional 7,250 shares during the last quarter. Quest Partners LLC increased its holdings in shares of Larimar Therapeutics by 171.1% during the 3rd quarter. Quest Partners LLC now owns 9,183 shares of the company’s stock worth $60,000 after buying an additional 5,796 shares during the last quarter. Virtu Financial LLC purchased a new position in shares of Larimar Therapeutics in the 3rd quarter worth $71,000. Intech Investment Management LLC purchased a new position in shares of Larimar Therapeutics in the 3rd quarter worth $85,000. Finally, SG Americas Securities LLC acquired a new position in Larimar Therapeutics in the third quarter valued at $94,000. Institutional investors and hedge funds own 91.92% of the company’s stock.

Larimar Therapeutics Stock Down 5.3 %

Shares of LRMR stock opened at $3.96 on Tuesday. The stock’s 50-day moving average price is $6.09 and its 200 day moving average price is $7.20. Larimar Therapeutics has a 52-week low of $3.01 and a 52-week high of $13.68. The stock has a market capitalization of $252.68 million, a PE ratio of -3.44 and a beta of 0.91.

Larimar Therapeutics (NASDAQ:LRMR) last released 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 period last year, the company posted ($0.21) earnings per share. Analysts expect that Larimar Therapeutics will post -1.16 earnings per share for the current fiscal year.

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.