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

Larimar Therapeutics, Inc. (NASDAQ:LRMR) has been assigned a consensus rating of “Buy” from the ten analysts that are presently covering the company, MarketBeat.com reports. Nine 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 brokerages that have issued a report on the stock in the last year is $20.43.

A number of analysts have recently weighed in on LRMR shares. Oppenheimer started coverage on shares of Larimar Therapeutics in a report on Wednesday, October 16th. They set an “outperform” rating and a $26.00 price target for the company. Baird R W raised shares of Larimar Therapeutics to a “strong-buy” rating in a report on Wednesday, September 4th. Wedbush started coverage on shares of Larimar Therapeutics in a report on Thursday, October 3rd. They set an “outperform” rating and a $22.00 price target for the company. Robert W. Baird started coverage on shares of Larimar Therapeutics in a report on Wednesday, September 4th. They set an “outperform” rating and a $16.00 price target for the company. Finally, HC Wainwright reaffirmed a “buy” rating and set a $15.00 price target on shares of Larimar Therapeutics in a report on Thursday, October 31st.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in LRMR. Quarry LP lifted its position in shares of Larimar Therapeutics by 966.7% during 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 in the last quarter. Quest Partners LLC lifted its position in shares of Larimar Therapeutics by 171.1% during the third quarter. Quest Partners LLC now owns 9,183 shares of the company’s stock valued at $60,000 after purchasing an additional 5,796 shares in the last quarter. Intech Investment Management LLC bought a new position in shares of Larimar Therapeutics during the third quarter valued at about $85,000. Thoroughbred Financial Services LLC bought a new position in shares of Larimar Therapeutics during the second quarter valued at about $94,000. Finally, EntryPoint Capital LLC bought a new position in shares of Larimar Therapeutics during the first quarter valued at about $106,000. 91.92% of the stock is owned by institutional investors.

Larimar Therapeutics Stock Performance

Shares of LRMR opened at $6.69 on Monday. Larimar Therapeutics has a 52 week low of $2.77 and a 52 week high of $13.68. The firm has a market cap of $426.89 million, a P/E ratio of -5.82 and a beta of 0.95. The firm’s 50-day simple moving average is $7.38 and its 200 day simple moving average is $7.93.

Larimar Therapeutics (NASDAQ:LRMR) last announced its earnings results on Wednesday, October 30th. The company reported ($0.24) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.13. During the same quarter last year, the business posted ($0.21) EPS. As a group, equities analysts forecast that Larimar Therapeutics will post -1.16 earnings per share 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.