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

Shares of Larimar Therapeutics, Inc. (NASDAQ:LRMR) have earned a consensus rating of “Buy” from the ten research firms that are currently covering the stock, Marketbeat Ratings reports. Nine equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $20.43.

Several equities research analysts have weighed in on LRMR shares. Wedbush began coverage on shares of Larimar Therapeutics in a research note on Thursday, October 3rd. They issued an “outperform” rating and a $22.00 price target for the company. Robert W. Baird started coverage on Larimar Therapeutics in a research note on Wednesday, September 4th. They set an “outperform” rating and a $16.00 price target on the stock. HC Wainwright began coverage on Larimar Therapeutics in a report on Wednesday, October 2nd. They issued a “buy” rating and a $15.00 price target on the stock. Oppenheimer started coverage on Larimar Therapeutics in a report on Wednesday, October 16th. They set an “outperform” rating and a $26.00 price objective for the company. Finally, Baird R W upgraded Larimar Therapeutics to a “strong-buy” rating in a report on Wednesday, September 4th.

Hedge Funds Weigh In On Larimar Therapeutics

Large investors have recently bought and sold shares of the stock. Quarry LP grew its stake in shares of Larimar Therapeutics by 966.7% in the 2nd quarter. Quarry LP now owns 8,000 shares of the company’s stock worth $58,000 after acquiring an additional 7,250 shares in the last quarter. Thoroughbred Financial Services LLC purchased a new position in Larimar Therapeutics during the second quarter worth about $94,000. SG Americas Securities LLC bought a new stake in Larimar Therapeutics in the 3rd quarter worth about $94,000. EntryPoint Capital LLC purchased a new stake in Larimar Therapeutics in the 1st quarter valued at about $106,000. Finally, AQR Capital Management LLC bought a new position in shares of Larimar Therapeutics during the 2nd quarter worth approximately $113,000. 91.92% of the stock is currently owned by institutional investors.

Larimar Therapeutics Price Performance

Shares of Larimar Therapeutics stock opened at $8.01 on Thursday. The firm has a market cap of $511.05 million, a price-to-earnings ratio of -8.26 and a beta of 0.98. The stock’s 50-day moving average is $7.32 and its 200 day moving average is $7.78. Larimar Therapeutics has a one year low of $2.18 and a one year high of $13.68.

Larimar Therapeutics (NASDAQ:LRMR) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($0.34) EPS for the quarter, missing the consensus estimate of ($0.32) by ($0.02). On average, sell-side analysts expect that Larimar Therapeutics will post -1.38 EPS for the current fiscal 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.