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

Shares of Larimar Therapeutics, Inc. (NASDAQ:LRMR) have received a consensus recommendation of “Buy” from the nine brokerages that are currently covering the stock, Marketbeat Ratings reports. Eight equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $19.50.

LRMR has been the subject of several recent analyst reports. Baird R W raised shares of Larimar Therapeutics to a “strong-buy” rating in a report on Wednesday, September 4th. Robert W. Baird started coverage on shares of Larimar Therapeutics in a report on Wednesday, September 4th. They set an “outperform” rating and a $16.00 price target for the company. Wedbush assumed coverage on Larimar Therapeutics in a research report on Thursday. They set an “outperform” rating and a $22.00 price objective for the company. Finally, HC Wainwright began coverage on Larimar Therapeutics in a research note on Wednesday. They set a “buy” rating and a $15.00 target price for the company.

Hedge Funds Weigh In On Larimar Therapeutics

Several large investors have recently added to or reduced their stakes in the company. Quarry LP increased its position in shares of 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 purchasing an additional 7,250 shares during the period. Thoroughbred Financial Services LLC bought a new stake in Larimar Therapeutics in the 2nd quarter valued at $94,000. SG Americas Securities LLC bought a new stake in Larimar Therapeutics in the 3rd quarter valued at $94,000. EntryPoint Capital LLC bought a new position in shares of Larimar Therapeutics during the 1st quarter worth about $106,000. Finally, AQR Capital Management LLC bought a new position in shares of Larimar Therapeutics during the 2nd quarter worth about $113,000. Institutional investors and hedge funds own 91.92% of the company’s stock.

Larimar Therapeutics Price Performance

Larimar Therapeutics stock opened at $6.52 on Friday. Larimar Therapeutics has a one year low of $2.18 and a one year high of $13.68. The company’s fifty day moving average price is $7.52 and its two-hundred day moving average price is $7.82. The company has a market capitalization of $415.99 million, a price-to-earnings ratio of -6.72 and a beta of 0.98.

Larimar Therapeutics (NASDAQ:LRMR) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($0.34) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.02). As a group, sell-side analysts anticipate that Larimar Therapeutics will post -1.4 earnings per share for the current year.

Larimar Therapeutics Company Profile

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.