Larimar Therapeutics, Inc. (NASDAQ:LRMR) Receives $21.33 Consensus Target Price from Analysts

Larimar Therapeutics, Inc. (NASDAQ:LRMRGet Free Report) has been assigned an average recommendation of “Buy” from the six research firms that are presently covering the firm, Marketbeat Ratings reports. Six analysts have rated the stock with a buy recommendation. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $21.33.

LRMR has been the topic of several recent research reports. JMP Securities restated a “market outperform” rating and issued a $25.00 price objective on shares of Larimar Therapeutics in a research report on Friday, May 31st. Leerink Partnrs restated an “outperform” rating on shares of Larimar Therapeutics in a research report on Wednesday, April 3rd. SVB Leerink assumed coverage on Larimar Therapeutics in a research report on Wednesday, April 3rd. They issued an “outperform” rating and a $25.00 price objective on the stock. Finally, Citigroup increased their target price on Larimar Therapeutics from $10.00 to $14.00 and gave the stock a “buy” rating in a research report on Wednesday, May 22nd.

Check Out Our Latest Analysis on Larimar Therapeutics

Larimar Therapeutics Stock Performance

Larimar Therapeutics stock opened at $7.29 on Tuesday. The firm has a market capitalization of $465.10 million, a price-to-earnings ratio of -7.76 and a beta of 0.88. Larimar Therapeutics has a fifty-two week low of $2.18 and a fifty-two week high of $13.68. The stock’s fifty day moving average is $7.78 and its two-hundred day moving average is $7.30.

Larimar Therapeutics (NASDAQ:LRMRGet Free Report) last issued its quarterly earnings data on Thursday, May 9th. The company reported ($0.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.03). As a group, sell-side analysts forecast that Larimar Therapeutics will post -1.29 EPS for the current fiscal year.

Hedge Funds Weigh In On Larimar Therapeutics

Several large investors have recently added to or reduced their stakes in the business. Pale Fire Capital SE acquired a new stake in Larimar Therapeutics during the third quarter worth about $48,000. SG Americas Securities LLC increased its stake in Larimar Therapeutics by 27.3% during the fourth quarter. SG Americas Securities LLC now owns 14,159 shares of the company’s stock worth $64,000 after acquiring an additional 3,039 shares during the last quarter. EntryPoint Capital LLC acquired a new stake in Larimar Therapeutics during the first quarter worth about $106,000. Virtu Financial LLC acquired a new stake in Larimar Therapeutics during the first quarter worth about $133,000. Finally, Fred Alger Management LLC increased its stake in Larimar Therapeutics by 22.5% during the third quarter. Fred Alger Management LLC now owns 116,269 shares of the company’s stock worth $459,000 after acquiring an additional 21,331 shares during the last quarter. 91.92% of the stock is currently owned by hedge funds and other institutional investors.

Larimar Therapeutics Company Profile

(Get Free Report

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.

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Analyst Recommendations for Larimar Therapeutics (NASDAQ:LRMR)

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