Larimar Therapeutics, Inc. (NASDAQ:LRMR) Receives $20.43 Consensus PT from Brokerages

Shares of Larimar Therapeutics, Inc. (NASDAQ:LRMR) have been assigned an average rating of “Buy” from the eleven analysts that are covering the stock, Marketbeat Ratings reports. Ten research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $20.43.

LRMR has been the subject of several research reports. Robert W. Baird initiated coverage on shares of Larimar Therapeutics in a research report on Wednesday, September 4th. They set an “outperform” rating and a $16.00 price target for the company. HC Wainwright reissued a “buy” rating and issued a $15.00 target price on shares of Larimar Therapeutics in a report on Monday, November 18th. William Blair reaffirmed an “outperform” rating on shares of Larimar Therapeutics in a report on Tuesday, November 19th. Baird R W upgraded Larimar Therapeutics to a “strong-buy” rating in a research note on Wednesday, September 4th. Finally, Oppenheimer started coverage on shares of Larimar Therapeutics in a research note on Wednesday, October 16th. They issued an “outperform” rating and a $26.00 price target on the stock.

Institutional Trading of Larimar Therapeutics

A number of institutional investors have recently bought and sold shares of LRMR. Quarry LP raised its stake in shares of Larimar Therapeutics by 966.7% in 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. Quest Partners LLC raised its position in Larimar Therapeutics by 171.1% in the 3rd quarter. Quest Partners LLC now owns 9,183 shares of the company’s stock worth $60,000 after purchasing an additional 5,796 shares during the period. Virtu Financial LLC bought a new stake in Larimar Therapeutics in the third quarter worth about $71,000. Intech Investment Management LLC purchased a new position in shares of Larimar Therapeutics during the third quarter valued at approximately $85,000. Finally, Thoroughbred Financial Services LLC bought a new position in shares of Larimar Therapeutics during the second quarter valued at approximately $94,000. 91.92% of the stock is currently owned by institutional investors.

Larimar Therapeutics Price Performance

Larimar Therapeutics stock opened at $6.16 on Monday. Larimar Therapeutics has a 12 month low of $3.19 and a 12 month high of $13.68. The business’s fifty day simple moving average is $7.25 and its two-hundred day simple moving average is $7.87.

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