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

Shares of Larimar Therapeutics, Inc. (NASDAQ:LRMR) have received an average recommendation of “Buy” from the eleven analysts that are covering the stock, MarketBeat Ratings reports. Ten investment analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $20.43.

LRMR has been the topic of a number of recent research reports. William Blair reaffirmed an “outperform” rating on shares of Larimar Therapeutics in a research report on Tuesday, November 19th. Wedbush assumed coverage on shares of Larimar Therapeutics in a report on Thursday, October 3rd. They issued an “outperform” rating and a $22.00 price target on the stock. Oppenheimer started coverage on shares of Larimar Therapeutics in a research note on Wednesday, October 16th. They set an “outperform” rating and a $26.00 price objective for the company. Finally, HC Wainwright restated a “buy” rating and issued a $15.00 target price on shares of Larimar Therapeutics in a research note on Monday, December 16th.

Institutional Trading of Larimar Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LRMR. Quarry LP lifted its holdings in shares of Larimar Therapeutics by 966.7% during the second quarter. Quarry LP now owns 8,000 shares of the company’s stock worth $58,000 after purchasing an additional 7,250 shares during the period. Quest Partners LLC raised its position in Larimar Therapeutics by 171.1% during the 3rd quarter. Quest Partners LLC now owns 9,183 shares of the company’s stock worth $60,000 after buying an additional 5,796 shares during the last quarter. Virtu Financial LLC acquired a new stake in Larimar Therapeutics during the 3rd quarter valued at approximately $71,000. Intech Investment Management LLC purchased a new stake in shares of Larimar Therapeutics in the 3rd quarter valued at $85,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Larimar Therapeutics in the third quarter worth $94,000. Institutional investors and hedge funds own 91.92% of the company’s stock.

Larimar Therapeutics Stock Performance

NASDAQ LRMR opened at $3.66 on Tuesday. The company’s 50-day simple moving average is $5.75 and its two-hundred day simple moving average is $7.10. Larimar Therapeutics has a one year low of $3.01 and a one year high of $13.68. The company has a market capitalization of $233.53 million, a price-to-earnings ratio of -3.18 and a beta of 0.91.

Larimar Therapeutics (NASDAQ:LRMR) last issued its quarterly earnings data on Wednesday, October 30th. The company reported ($0.24) EPS for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.13. During the same quarter in the prior year, the company posted ($0.21) earnings per share. Equities analysts expect that Larimar Therapeutics will post -1.16 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.