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

Larimar Therapeutics, Inc. (NASDAQ:LRMR) has earned a consensus rating of “Buy” from the twelve research firms that are currently covering the stock, MarketBeat reports. Eleven 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 price objective among brokers that have issued a report on the stock in the last year is $20.13.

Several research analysts have weighed in on LRMR shares. William Blair reiterated an “outperform” rating on shares of Larimar Therapeutics in a research note on Tuesday, November 19th. Oppenheimer began 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. Truist Financial initiated coverage on shares of Larimar Therapeutics in a research note on Wednesday. They issued a “buy” rating and a $18.00 target price for the company. Finally, HC Wainwright reiterated a “buy” rating and set a $15.00 price target on shares of Larimar Therapeutics in a research note on Friday, January 24th.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Janus Henderson Group PLC boosted its position in shares of Larimar Therapeutics by 27.2% in the 3rd quarter. Janus Henderson Group PLC now owns 5,566,855 shares of the company’s stock worth $36,379,000 after buying an additional 1,189,467 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of Larimar Therapeutics by 30.2% in the second quarter. Millennium Management LLC now owns 1,018,135 shares of the company’s stock valued at $7,381,000 after purchasing an additional 235,865 shares in the last quarter. Sphera Funds Management LTD. grew its position in shares of Larimar Therapeutics by 32.6% in the third quarter. Sphera Funds Management LTD. now owns 414,478 shares of the company’s stock valued at $2,715,000 after purchasing an additional 102,009 shares during the last quarter. Jane Street Group LLC grew its position in shares of Larimar Therapeutics by 80.1% in the third quarter. Jane Street Group LLC now owns 113,783 shares of the company’s stock valued at $745,000 after purchasing an additional 50,622 shares during the last quarter. Finally, GSA Capital Partners LLP increased its stake in shares of Larimar Therapeutics by 108.9% during the 3rd quarter. GSA Capital Partners LLP now owns 107,408 shares of the company’s stock worth $704,000 after purchasing an additional 55,984 shares in the last quarter. 91.92% of the stock is owned by hedge funds and other institutional investors.

Larimar Therapeutics Price Performance

Shares of NASDAQ:LRMR opened at $3.84 on Friday. Larimar Therapeutics has a 1-year low of $3.01 and a 1-year high of $13.68. The stock has a market cap of $245.02 million, a P/E ratio of -3.34 and a beta of 0.91. The firm has a fifty day moving average price of $4.60 and a 200 day moving average price of $6.65.

Larimar Therapeutics (NASDAQ:LRMR) last announced its earnings results on Wednesday, October 30th. The company reported ($0.24) earnings per share for the quarter, topping the consensus estimate of ($0.37) by $0.13. During the same quarter last year, the company posted ($0.21) EPS. Sell-side analysts expect that Larimar Therapeutics will post -1.15 EPS for the current fiscal 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.