Larimar Therapeutics, Inc. (NASDAQ:LRMR) Given Average Rating of “Buy” by Brokerages

Shares of Larimar Therapeutics, Inc. (NASDAQ:LRMR) have received a consensus recommendation of “Buy” from the seven analysts that are presently covering the company, MarketBeat Ratings reports. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $20.00.

A number of research analysts have commented on the stock. Robert W. Baird assumed coverage on shares of Larimar Therapeutics in a research note on Wednesday, September 4th. They issued an “outperform” rating and a $16.00 price objective on the stock. Baird R W raised Larimar Therapeutics to a “strong-buy” rating in a research note on Wednesday, September 4th.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Quarry LP increased its position in Larimar Therapeutics by 966.7% during the 2nd 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. Thoroughbred Financial Services LLC purchased a new position in Larimar Therapeutics in the second quarter worth $94,000. EntryPoint Capital LLC acquired a new stake in Larimar Therapeutics in the first quarter valued at $106,000. AQR Capital Management LLC purchased a new stake in shares of Larimar Therapeutics during the 2nd quarter worth $113,000. Finally, The Manufacturers Life Insurance Company acquired a new position in shares of Larimar Therapeutics during the 2nd quarter worth $120,000. 91.92% of the stock is owned by hedge funds and other institutional investors.

Larimar Therapeutics Stock Up 3.8 %

Shares of NASDAQ LRMR opened at $6.57 on Friday. The stock has a market cap of $419.23 million, a PE ratio of -6.77 and a beta of 0.99. Larimar Therapeutics has a 52-week low of $2.18 and a 52-week high of $13.68. The business has a 50-day moving average price of $7.76 and a 200 day moving average price of $7.88.

Larimar Therapeutics (NASDAQ:LRMR) last announced its earnings results on Wednesday, August 7th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.02). 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.