Larimar Therapeutics, Inc. (NASDAQ:LRMR) Receives $20.13 Average Target Price from Brokerages

Shares of Larimar Therapeutics, Inc. (NASDAQ:LRMR) have earned a consensus rating of “Buy” from the twelve ratings firms that are currently covering the firm, MarketBeat reports. Eleven equities research 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 analysts that have covered the stock in the last year is $20.22.

A number of analysts have recently weighed in on the company. Truist Financial began coverage on Larimar Therapeutics in a research note on Wednesday, January 29th. They issued a “buy” rating and a $18.00 target price for the company. Guggenheim reaffirmed a “buy” rating and issued a $26.00 target price on shares of Larimar Therapeutics in a research note on Tuesday. HC Wainwright increased their price target on shares of Larimar Therapeutics from $15.00 to $16.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, Robert W. Baird dropped their price objective on shares of Larimar Therapeutics from $13.00 to $10.00 and set an “outperform” rating for the company in a research report on Tuesday.

Larimar Therapeutics Stock Performance

NASDAQ:LRMR opened at $2.31 on Friday. The firm’s 50-day moving average is $3.14 and its 200-day moving average is $5.20. The company has a market cap of $147.39 million, a price-to-earnings ratio of -2.01 and a beta of 0.99. Larimar Therapeutics has a 52-week low of $2.22 and a 52-week high of $11.20.

Larimar Therapeutics (NASDAQ:LRMR) last announced its quarterly earnings results on Monday, March 24th. The company reported ($0.45) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.29) by ($0.16). Equities analysts predict that Larimar Therapeutics will post -1.15 EPS for the current year.

Hedge Funds Weigh In On Larimar Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the business. Fi3 FINANCIAL ADVISORS LLC lifted its stake in shares of Larimar Therapeutics by 16.7% in the 4th quarter. Fi3 FINANCIAL ADVISORS LLC now owns 23,798 shares of the company’s stock valued at $92,000 after purchasing an additional 3,411 shares during the period. JPMorgan Chase & Co. increased its holdings in Larimar Therapeutics by 18.7% in the third quarter. JPMorgan Chase & Co. now owns 21,771 shares of the company’s stock valued at $143,000 after purchasing an additional 3,425 shares during the last quarter. Franklin Resources Inc. lifted its stake in Larimar Therapeutics by 21.9% in the third quarter. Franklin Resources Inc. now owns 19,723 shares of the company’s stock valued at $143,000 after buying an additional 3,549 shares during the period. Envestnet Asset Management Inc. lifted its stake in Larimar Therapeutics by 12.3% in the fourth quarter. Envestnet Asset Management Inc. now owns 35,525 shares of the company’s stock valued at $137,000 after buying an additional 3,877 shares during the period. Finally, Bank of America Corp DE boosted its holdings in Larimar Therapeutics by 8.1% during the fourth quarter. Bank of America Corp DE now owns 53,190 shares of the company’s stock worth $206,000 after buying an additional 3,980 shares during the last quarter. 91.92% of the stock is owned by institutional investors.

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.