Analysts Set Larimar Therapeutics, Inc. (NASDAQ:LRMR) Price Target at $20.43

Shares of Larimar Therapeutics, Inc. (NASDAQ:LRMR) have earned a consensus rating of “Buy” from the eleven analysts that are currently covering the stock, MarketBeat reports. Ten investment analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $20.43.

LRMR has been the topic of several recent analyst reports. Robert W. Baird initiated coverage on shares of Larimar Therapeutics in a report on Wednesday, September 4th. They set an “outperform” rating and a $16.00 price objective on the stock. William Blair reaffirmed an “outperform” rating on shares of Larimar Therapeutics in a report on Tuesday, November 19th. Oppenheimer initiated coverage on shares of Larimar Therapeutics in a report on Wednesday, October 16th. They set an “outperform” rating and a $26.00 price objective on the stock. Baird R W raised shares of Larimar Therapeutics to a “strong-buy” rating in a research note on Wednesday, September 4th. Finally, HC Wainwright reissued a “buy” rating and issued a $15.00 price target on shares of Larimar Therapeutics in a research note on Monday.

Institutional Investors Weigh In On Larimar Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of LRMR. Bank of New York Mellon Corp increased its position in Larimar Therapeutics by 57.2% during the second quarter. Bank of New York Mellon Corp now owns 134,877 shares of the company’s stock worth $978,000 after purchasing an additional 49,102 shares during the last quarter. Rhumbline Advisers increased its position in Larimar Therapeutics by 74.6% during the second quarter. Rhumbline Advisers now owns 54,936 shares of the company’s stock worth $398,000 after purchasing an additional 23,475 shares during the last quarter. Ballentine Partners LLC acquired a new stake in Larimar Therapeutics during the second quarter worth about $137,000. Thoroughbred Financial Services LLC acquired a new stake in Larimar Therapeutics during the second quarter worth about $94,000. Finally, Squarepoint Ops LLC increased its position in Larimar Therapeutics by 174.6% during the second quarter. Squarepoint Ops LLC now owns 29,858 shares of the company’s stock worth $216,000 after purchasing an additional 69,858 shares during the last quarter. 91.92% of the stock is currently owned by institutional investors and hedge funds.

Larimar Therapeutics Stock Performance

Shares of NASDAQ LRMR opened at $4.32 on Friday. The company’s fifty day moving average price is $7.08 and its 200 day moving average price is $7.70. Larimar Therapeutics has a 1 year low of $3.01 and a 1 year high of $13.68. The company has a market capitalization of $275.65 million, a PE ratio of -3.76 and a beta of 0.86.

Larimar Therapeutics (NASDAQ:LRMR) last posted its quarterly earnings data on Wednesday, October 30th. The company reported ($0.24) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.37) by $0.13. During the same quarter in the previous year, the company earned ($0.21) EPS. On average, equities analysts expect that Larimar Therapeutics will post -1.16 EPS 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.