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

Shares of Larimar Therapeutics, Inc. (NASDAQ:LRMR) have been assigned a consensus recommendation of “Buy” from the eleven research firms that are presently covering the company, Marketbeat.com reports. Ten investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $20.43.

A number of equities research analysts have recently issued reports on the company. William Blair reiterated an “outperform” rating on shares of Larimar Therapeutics in a research note on Tuesday, November 19th. Wedbush initiated coverage on Larimar Therapeutics in a report on Thursday, October 3rd. They issued an “outperform” rating and a $22.00 price target for the company. HC Wainwright reiterated a “buy” rating and set a $15.00 price objective on shares of Larimar Therapeutics in a research note on Monday, December 16th. Finally, Oppenheimer started coverage on shares of Larimar Therapeutics in a research note on Wednesday, October 16th. They issued an “outperform” rating and a $26.00 target price for the company.

Larimar Therapeutics Stock Down 5.3 %

LRMR opened at $3.96 on Tuesday. The company has a 50 day moving average of $6.09 and a two-hundred day moving average of $7.20. Larimar Therapeutics has a 52-week low of $3.01 and a 52-week high of $13.68. The company has a market cap of $252.68 million, a P/E ratio of -3.44 and a beta of 0.91.

Larimar Therapeutics (NASDAQ:LRMR) last announced its quarterly 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 in the previous year, the firm earned ($0.21) EPS. Research analysts anticipate that Larimar Therapeutics will post -1.16 earnings per share for the current year.

Institutional Trading of Larimar Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Janus Henderson Group PLC increased its holdings in Larimar Therapeutics by 27.2% in the third quarter. Janus Henderson Group PLC now owns 5,566,855 shares of the company’s stock valued at $36,379,000 after buying an additional 1,189,467 shares during the last quarter. Barclays PLC increased its holdings in shares of Larimar Therapeutics by 321.2% in the 3rd 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 bought a new stake in shares of Larimar Therapeutics in the 3rd quarter valued at approximately $100,000. Franklin Resources Inc. raised its position in shares of Larimar Therapeutics by 21.9% during the 3rd quarter. Franklin Resources Inc. now owns 19,723 shares of the company’s stock valued at $143,000 after acquiring an additional 3,549 shares in the last quarter. Finally, Jane Street Group LLC lifted its stake in 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 during the last quarter. Institutional investors own 91.92% of the company’s stock.

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.