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

Shares of Larimar Therapeutics, Inc. (NASDAQ:LRMR) have earned a consensus rating of “Buy” from the eleven ratings firms that are presently covering the company, Marketbeat.com reports. Ten investment analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $20.43.

Several research firms have issued reports on LRMR. Wedbush began coverage on shares of Larimar Therapeutics in a research note on Thursday, October 3rd. They set an “outperform” rating and a $22.00 price objective for the company. HC Wainwright reiterated a “buy” rating and issued a $15.00 price target on shares of Larimar Therapeutics in a report on Monday, December 16th. William Blair restated an “outperform” rating on shares of Larimar Therapeutics in a research note on Tuesday, November 19th. Finally, Oppenheimer began coverage on Larimar Therapeutics in a research note on Wednesday, October 16th. They issued an “outperform” rating and a $26.00 target price for the company.

Larimar Therapeutics Trading Down 4.3 %

Shares of NASDAQ:LRMR opened at $3.79 on Tuesday. The firm has a market cap of $241.83 million, a price-to-earnings ratio of -3.30 and a beta of 0.91. The stock’s 50-day moving average price is $5.83 and its two-hundred day moving average price is $7.13. Larimar Therapeutics has a 12-month low of $3.01 and a 12-month high of $13.68.

Larimar Therapeutics (NASDAQ:LRMR) last issued its earnings results on Wednesday, October 30th. The company reported ($0.24) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.13. During the same period last year, the firm posted ($0.21) earnings per share. As a group, research analysts forecast that Larimar Therapeutics will post -1.16 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Larimar Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Quarry LP grew its position in shares of Larimar Therapeutics by 966.7% during the second quarter. Quarry LP now owns 8,000 shares of the company’s stock worth $58,000 after buying an additional 7,250 shares in the last quarter. Quest Partners LLC boosted its stake in Larimar Therapeutics by 171.1% during the 3rd quarter. Quest Partners LLC now owns 9,183 shares of the company’s stock valued at $60,000 after acquiring an additional 5,796 shares during the last quarter. Virtu Financial LLC acquired a new position in Larimar Therapeutics during the 3rd quarter worth $71,000. Intech Investment Management LLC bought a new stake in shares of Larimar Therapeutics in the 3rd quarter worth about $85,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Larimar Therapeutics in the 3rd quarter valued at about $94,000. 91.92% of the stock is currently owned by hedge funds and other institutional investors.

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.