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

Shares of Larimar Therapeutics, Inc. (NASDAQ:LRMR) have received an average recommendation of “Buy” from the twelve analysts that are presently covering the firm, MarketBeat Ratings reports. Eleven research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokerages that have covered the stock in the last year is $20.22.

LRMR has been the topic of several analyst reports. HC Wainwright upped their price objective on Larimar Therapeutics from $15.00 to $16.00 and gave the company a “buy” rating in a research note on Tuesday. Guggenheim reiterated a “buy” rating and set a $26.00 price objective on shares of Larimar Therapeutics in a research note on Tuesday. Robert W. Baird cut their price objective on Larimar Therapeutics from $13.00 to $10.00 and set an “outperform” rating for the company in a report on Tuesday. Finally, Truist Financial started coverage on shares of Larimar Therapeutics in a report on Wednesday, January 29th. They issued a “buy” rating and a $18.00 target price on the stock.

Hedge Funds Weigh In On Larimar Therapeutics

Institutional investors have recently modified their holdings of the stock. Janus Henderson Group PLC increased its holdings in shares of Larimar Therapeutics by 15.7% in the fourth quarter. Janus Henderson Group PLC now owns 6,443,286 shares of the company’s stock valued at $24,936,000 after purchasing an additional 876,431 shares in the last quarter. Blue Owl Capital Holdings LP boosted its position in Larimar Therapeutics by 11.7% in the 4th quarter. Blue Owl Capital Holdings LP now owns 4,653,040 shares of the company’s stock valued at $18,007,000 after buying an additional 486,211 shares during the last quarter. Adage Capital Partners GP L.L.C. boosted its position in Larimar Therapeutics by 23.5% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 2,100,000 shares of the company’s stock valued at $8,127,000 after buying an additional 399,123 shares during the last quarter. Alyeska Investment Group L.P. increased its stake in shares of Larimar Therapeutics by 38.6% in the 4th quarter. Alyeska Investment Group L.P. now owns 984,077 shares of the company’s stock valued at $3,808,000 after buying an additional 273,920 shares during the period. Finally, Renaissance Technologies LLC raised its position in shares of Larimar Therapeutics by 45.1% during the fourth quarter. Renaissance Technologies LLC now owns 513,542 shares of the company’s stock worth $1,987,000 after acquiring an additional 159,700 shares during the last quarter. 91.92% of the stock is owned by institutional investors.

Larimar Therapeutics Price Performance

Shares of Larimar Therapeutics stock opened at $2.38 on Friday. Larimar Therapeutics has a 52-week low of $2.19 and a 52-week high of $11.20. The firm has a market capitalization of $151.54 million, a PE ratio of -2.07 and a beta of 0.99. The company’s fifty day moving average price is $3.10 and its two-hundred day moving average price is $5.16.

Larimar Therapeutics (NASDAQ:LRMR) last issued its earnings results on Monday, March 24th. The company reported ($0.45) earnings per share for the quarter, missing the consensus estimate of ($0.29) by ($0.16). Analysts predict that Larimar Therapeutics will post -1.15 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.