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

Shares of Larimar Therapeutics, Inc. (NASDAQ:LRMR) have earned an average rating of “Buy” from the eleven ratings firms that are currently covering the firm, MarketBeat Ratings reports. Ten equities research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $20.43.

A number of equities research analysts have commented on the stock. Wedbush initiated coverage on shares of Larimar Therapeutics in a report on Thursday, October 3rd. They set an “outperform” rating and a $22.00 price objective on the stock. Oppenheimer initiated coverage on shares of Larimar Therapeutics in a report on Wednesday, October 16th. They issued an “outperform” rating and a $26.00 price target for the company. Robert W. Baird initiated coverage on Larimar Therapeutics in a report on Wednesday, September 4th. They set 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. Finally, William Blair reaffirmed an “outperform” rating on shares of Larimar Therapeutics in a research note on Tuesday.

Institutional Investors Weigh In On Larimar Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LRMR. Quarry LP grew its position in shares of 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 buying an additional 7,250 shares during the period. Quest Partners LLC grew its holdings in Larimar Therapeutics by 171.1% during the third quarter. Quest Partners LLC now owns 9,183 shares of the company’s stock valued at $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 valued at approximately $71,000. Intech Investment Management LLC acquired a new stake in Larimar Therapeutics in the third quarter worth $85,000. Finally, Thoroughbred Financial Services LLC bought a new position in shares of Larimar Therapeutics during the second quarter worth $94,000. Institutional investors own 91.92% of the company’s stock.

Larimar Therapeutics Price Performance

NASDAQ LRMR opened at $6.16 on Monday. The firm has a market cap of $393.07 million, a PE ratio of -5.36 and a beta of 0.95. Larimar Therapeutics has a one year low of $3.19 and a one year high of $13.68. The stock’s 50 day simple moving average is $7.25 and its 200 day simple moving average is $7.87.

Larimar Therapeutics (NASDAQ:LRMR) last posted 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 period last year, the business posted ($0.21) earnings per share. As a group, equities analysts expect 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.