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

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

A number of brokerages have recently weighed in on LRMR. William Blair reissued an “outperform” rating on shares of Larimar Therapeutics in a report on Tuesday, November 19th. Robert W. Baird initiated coverage on shares of Larimar Therapeutics in a research note on Wednesday, September 4th. They set an “outperform” rating and a $16.00 price objective for the company. Wedbush initiated coverage on shares of Larimar Therapeutics in a report on Thursday, October 3rd. They issued an “outperform” rating and a $22.00 price objective on the stock. HC Wainwright reissued a “buy” rating and set a $15.00 target price on shares of Larimar Therapeutics in a report on Monday, November 18th. Finally, Baird R W raised shares of Larimar Therapeutics to a “strong-buy” rating in a report on Wednesday, September 4th.

Institutional Investors Weigh In On Larimar Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Virtu Financial LLC purchased a new stake in shares of Larimar Therapeutics during the third quarter worth about $71,000. Barclays PLC raised its holdings in shares of Larimar Therapeutics by 321.2% during the third quarter. Barclays PLC now owns 60,032 shares of the company’s stock valued at $393,000 after acquiring an additional 45,781 shares during the last quarter. XTX Topco Ltd acquired a new stake in shares of Larimar Therapeutics in the third quarter worth approximately $100,000. Jane Street Group LLC increased its position in shares of Larimar Therapeutics by 80.1% during the third quarter. Jane Street Group LLC now owns 113,783 shares of the company’s stock worth $745,000 after purchasing an additional 50,622 shares in the last quarter. Finally, Wellington Management Group LLP lifted its holdings in Larimar Therapeutics by 152.5% in the 3rd quarter. Wellington Management Group LLP now owns 105,246 shares of the company’s stock valued at $689,000 after purchasing an additional 63,563 shares in the last quarter. Hedge funds and other institutional investors own 91.92% of the company’s stock.

Larimar Therapeutics Stock Up 0.5 %

Shares of Larimar Therapeutics stock opened at $6.16 on Monday. The company has a 50 day moving average price of $7.25 and a 200 day moving average price of $7.87. Larimar Therapeutics has a 52 week low of $3.19 and a 52 week high of $13.68.

Larimar Therapeutics (NASDAQ:LRMR) last posted its quarterly earnings data on Wednesday, October 30th. The company reported ($0.24) EPS for the quarter, topping the consensus estimate of ($0.37) by $0.13. During the same quarter last year, the company earned ($0.21) EPS. On average, equities analysts predict that Larimar Therapeutics will post -1.16 EPS for the current 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.