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

Shares of Larimar Therapeutics, Inc. (NASDAQ:LRMR) have earned a consensus recommendation of “Buy” from the ten brokerages that are presently covering the firm, Marketbeat reports. Nine analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $20.43.

Several research firms have recently commented on LRMR. Robert W. Baird began coverage on shares of Larimar Therapeutics in a report on Wednesday, September 4th. They set an “outperform” rating and a $16.00 price target on the stock. HC Wainwright began coverage on shares of Larimar Therapeutics in a report on Wednesday, October 2nd. They set a “buy” rating and a $15.00 price target on the stock. Wedbush began 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 began coverage on shares of Larimar Therapeutics in a report on Wednesday, October 16th. They set an “outperform” rating and a $26.00 price target on the stock. Finally, Baird R W upgraded shares of Larimar Therapeutics to a “strong-buy” rating in a report on Wednesday, September 4th.

Larimar Therapeutics Stock Up 8.7 %

Shares of NASDAQ:LRMR opened at $8.46 on Thursday. The company’s fifty day moving average is $7.33 and its two-hundred day moving average is $7.80. Larimar Therapeutics has a 12-month low of $2.18 and a 12-month high of $13.68. The company has a market cap of $539.81 million, a P/E ratio of -7.55 and a beta of 0.98.

Larimar Therapeutics (NASDAQ:LRMR) last announced its earnings results on Wednesday, August 7th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.32) by ($0.02). Equities research analysts anticipate that Larimar Therapeutics will post -1.38 earnings per share for the current year.

Institutional Investors Weigh In On Larimar Therapeutics

A number of hedge funds have recently bought and sold shares of the company. Quarry LP boosted its holdings in 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 acquiring an additional 7,250 shares during the period. Thoroughbred Financial Services LLC bought a new stake in Larimar Therapeutics during the second quarter valued at about $94,000. EntryPoint Capital LLC bought a new stake in Larimar Therapeutics during the first quarter valued at about $106,000. SG Americas Securities LLC bought a new stake in Larimar Therapeutics during the third quarter valued at about $94,000. Finally, AQR Capital Management LLC acquired a new position in shares of Larimar Therapeutics during the second quarter valued at about $113,000. 91.92% of the stock is currently owned by institutional investors.

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.