Larimar Therapeutics, Inc. (NASDAQ:LRMR) Receives $20.43 Average PT from Brokerages

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

Several research analysts recently issued reports on LRMR shares. William Blair reaffirmed an “outperform” rating on shares of Larimar Therapeutics in a research report on Tuesday, November 19th. HC Wainwright reiterated a “buy” rating and issued a $15.00 target price on shares of Larimar Therapeutics in a report on Monday, November 18th. Wedbush initiated coverage on shares of Larimar Therapeutics in a report on Thursday, October 3rd. They set an “outperform” rating and a $22.00 price target on the stock. Oppenheimer assumed 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 for the company. Finally, Robert W. Baird assumed coverage on Larimar Therapeutics in a research note on Wednesday, September 4th. They issued an “outperform” rating and a $16.00 target price on the stock.

Institutional Trading of Larimar Therapeutics

Several institutional investors have recently added to or reduced their stakes in the business. Quarry LP increased its holdings in shares of Larimar Therapeutics by 966.7% in the second quarter. Quarry LP now owns 8,000 shares of the company’s stock worth $58,000 after buying an additional 7,250 shares during the period. Quest Partners LLC increased 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 during the period. Virtu Financial LLC bought a new stake in Larimar Therapeutics in the third quarter valued at approximately $71,000. Intech Investment Management LLC purchased a new stake in shares of Larimar Therapeutics during the third quarter valued at approximately $85,000. Finally, SG Americas Securities LLC bought a new position in shares of Larimar Therapeutics in the third quarter worth approximately $94,000. 91.92% of the stock is currently owned by hedge funds and other institutional investors.

Larimar Therapeutics Trading Up 1.0 %

Shares of LRMR stock opened at $6.17 on Friday. The firm has a fifty day simple moving average of $7.17 and a two-hundred day simple moving average of $7.75. Larimar Therapeutics has a 12 month low of $3.80 and a 12 month high of $13.68. The firm has a market capitalization of $393.71 million, a PE ratio of -5.37 and a beta of 0.86.

Larimar Therapeutics (NASDAQ:LRMR) last posted its earnings results on Wednesday, October 30th. The company reported ($0.24) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.13. During the same quarter last year, the business posted ($0.21) earnings per share. On average, equities 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.