Analysts Set Larimar Therapeutics, Inc. (NASDAQ:LRMR) Target Price at $20.43

Larimar Therapeutics, Inc. (NASDAQ:LRMR) has been given a consensus recommendation of “Buy” by the eleven analysts that are currently covering the firm, Marketbeat reports. Ten research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $20.43.

Several research analysts have recently weighed in on LRMR shares. Robert W. Baird initiated coverage on shares of Larimar Therapeutics in a report on Wednesday, September 4th. They issued an “outperform” rating and a $16.00 price target for the company. William Blair reaffirmed an “outperform” rating on shares of Larimar Therapeutics in a research note on Tuesday, November 19th. Oppenheimer began coverage on Larimar Therapeutics in a report on Wednesday, October 16th. They set an “outperform” rating and a $26.00 target price for the company. Baird R W upgraded Larimar Therapeutics to a “strong-buy” rating in a report on Wednesday, September 4th. Finally, Wedbush assumed coverage on Larimar Therapeutics in a report on Thursday, October 3rd. They set an “outperform” rating and a $22.00 target price on the stock.

Hedge Funds Weigh In On Larimar Therapeutics

Hedge funds have recently modified their holdings of the business. Franklin Resources Inc. increased its holdings in Larimar Therapeutics by 21.9% in the third quarter. Franklin Resources Inc. now owns 19,723 shares of the company’s stock worth $143,000 after purchasing an additional 3,549 shares in the last quarter. Quarry LP increased its stake in shares of Larimar Therapeutics by 50.0% in the 3rd quarter. Quarry LP now owns 12,000 shares of the company’s stock valued at $79,000 after acquiring an additional 4,000 shares in the last quarter. Quest Partners LLC boosted its stake in Larimar Therapeutics by 171.1% during the third quarter. Quest Partners LLC now owns 9,183 shares of the company’s stock worth $60,000 after acquiring an additional 5,796 shares in the last quarter. Virtu Financial LLC acquired a new stake in Larimar Therapeutics in the third quarter worth $71,000. Finally, Intech Investment Management LLC bought a new stake in Larimar Therapeutics in the third quarter valued at $85,000. Institutional investors and hedge funds own 91.92% of the company’s stock.

Larimar Therapeutics Stock Performance

LRMR opened at $6.17 on Friday. The firm’s fifty day moving average is $7.17 and its two-hundred day moving average is $7.75. The firm has a market cap of $393.71 million, a PE ratio of -5.37 and a beta of 0.86. Larimar Therapeutics has a twelve month low of $3.80 and a twelve month high of $13.68.

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