Larimar Therapeutics, Inc. (NASDAQ:LRMR) Receives $20.43 Average Price Target from Analysts

Larimar Therapeutics, Inc. (NASDAQ:LRMR) has earned a consensus recommendation of “Buy” from the eleven research firms that are currently covering the company, MarketBeat reports. Ten research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $20.43.

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

Larimar Therapeutics Price Performance

Shares of LRMR opened at $3.98 on Friday. The company’s 50-day moving average is $6.97 and its 200-day moving average is $7.65. The firm has a market capitalization of $253.95 million, a PE ratio of -3.46 and a beta of 0.86. Larimar Therapeutics has a fifty-two week low of $3.01 and a fifty-two week high of $13.68.

Larimar Therapeutics (NASDAQ:LRMR) last announced its quarterly 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 business posted ($0.21) earnings per share. Analysts predict that Larimar Therapeutics will post -1.16 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Larimar Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Bank of New York Mellon Corp increased its stake in Larimar Therapeutics by 57.2% in the second 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 during the last quarter. Rhumbline Advisers increased its stake in shares of Larimar Therapeutics by 74.6% in the 2nd quarter. Rhumbline Advisers now owns 54,936 shares of the company’s stock valued at $398,000 after purchasing an additional 23,475 shares during the last quarter. Ballentine Partners LLC acquired a new position in shares of Larimar Therapeutics during the 2nd quarter worth $137,000. Thoroughbred Financial Services LLC bought a new position in Larimar Therapeutics in the second quarter valued at about $94,000. Finally, Squarepoint Ops LLC grew its position in Larimar Therapeutics by 174.6% in the second quarter. Squarepoint Ops LLC now owns 29,858 shares of the company’s stock valued at $216,000 after acquiring an additional 69,858 shares during the last quarter. 91.92% of the stock is currently owned by institutional investors and hedge funds.

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.