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

Shares of Larimar Therapeutics, Inc. (NASDAQ:LRMR) have received a consensus rating of “Buy” from the eleven research firms that are currently covering the company, Marketbeat.com reports. Ten analysts have rated the stock with a buy rating and one has issued a strong buy rating on 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 research analysts have weighed in on the stock. Oppenheimer initiated coverage on shares of Larimar Therapeutics in a research report on Wednesday, October 16th. They issued an “outperform” rating and a $26.00 price objective for the company. William Blair reiterated an “outperform” rating on shares of Larimar Therapeutics in a research report on Tuesday, November 19th. HC Wainwright reissued a “buy” rating and issued a $15.00 price objective on shares of Larimar Therapeutics in a report on Monday, December 16th. Finally, Wedbush started coverage on Larimar Therapeutics in a research note on Thursday, October 3rd. They set an “outperform” rating and a $22.00 target price for the company.

Institutional Investors Weigh In On Larimar Therapeutics

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

Larimar Therapeutics Trading Down 3.4 %

Shares of LRMR stock opened at $3.66 on Tuesday. Larimar Therapeutics has a twelve month low of $3.01 and a twelve month high of $13.68. The stock has a market cap of $233.53 million, a P/E ratio of -3.18 and a beta of 0.91. The stock has a 50 day moving average of $5.75 and a 200 day moving average of $7.10.

Larimar Therapeutics (NASDAQ:LRMR) last posted its earnings results on Wednesday, October 30th. The company reported ($0.24) earnings per share for the quarter, beating the consensus estimate of ($0.37) by $0.13. During the same quarter in the previous year, the business earned ($0.21) EPS. On average, research analysts predict 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.