Larimar Therapeutics, Inc. (NASDAQ:LRMR) Receives $19.63 Consensus Target Price from Analysts

Larimar Therapeutics, Inc. (NASDAQ:LRMR) has been assigned an average recommendation of “Buy” from the ten brokerages that are presently covering the firm, MarketBeat.com reports. Nine analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $19.63.

A number of brokerages have issued reports on LRMR. Citigroup reissued a “buy” rating on shares of Larimar Therapeutics in a research report on Tuesday, March 25th. Guggenheim restated a “buy” rating and set a $26.00 target price on shares of Larimar Therapeutics in a report on Tuesday, March 25th. Truist Financial began coverage on shares of Larimar Therapeutics in a research note on Wednesday, January 29th. They set a “buy” rating and a $18.00 price target on the stock. HC Wainwright increased their price target on shares of Larimar Therapeutics from $15.00 to $16.00 and gave the stock a “buy” rating in a research report on Tuesday, March 25th. 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 report on Tuesday, March 25th.

Larimar Therapeutics Trading Up 3.5 %

NASDAQ LRMR opened at $1.91 on Thursday. The stock has a fifty day simple moving average of $2.51 and a 200-day simple moving average of $4.54. The stock has a market cap of $121.97 million, a PE ratio of -1.66 and a beta of 0.91. Larimar Therapeutics has a twelve month low of $1.61 and a twelve month high of $11.20.

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

Hedge Funds Weigh In On Larimar Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the company. Rhumbline Advisers boosted its position in shares of Larimar Therapeutics by 15.7% during the 1st quarter. Rhumbline Advisers now owns 65,018 shares of the company’s stock worth $140,000 after acquiring an additional 8,818 shares in the last quarter. Wellington Management Group LLP increased its stake in Larimar Therapeutics by 10.3% in the fourth quarter. Wellington Management Group LLP now owns 116,067 shares of the company’s stock valued at $449,000 after purchasing an additional 10,821 shares during the last quarter. Velan Capital Investment Management LP acquired a new stake in Larimar Therapeutics during the fourth quarter worth approximately $70,000. Sphera Funds Management LTD. lifted its position in shares of Larimar Therapeutics by 9.9% during the 4th quarter. Sphera Funds Management LTD. now owns 455,604 shares of the company’s stock worth $1,763,000 after buying an additional 41,126 shares during the last quarter. Finally, ProShare Advisors LLC acquired a new position in shares of Larimar Therapeutics in the 4th quarter valued at $58,000. Institutional investors and hedge funds own 91.92% of the company’s stock.

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.