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

Larimar Therapeutics, Inc. (NASDAQ:LRMR) has received an average recommendation of “Buy” from the twelve research firms that are covering the stock, Marketbeat reports. Eleven analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokers that have covered the stock in the last year is $20.22.

LRMR has been the subject of a number of analyst reports. Truist Financial initiated coverage on shares of Larimar Therapeutics in a research note on Wednesday, January 29th. They issued a “buy” rating and a $18.00 target price for the company. HC Wainwright increased their target price on shares of Larimar Therapeutics from $15.00 to $16.00 and gave the stock a “buy” rating in a research report on Tuesday. Guggenheim reaffirmed a “buy” rating and issued a $26.00 price target on shares of Larimar Therapeutics in a research report on Tuesday. Finally, Robert W. Baird lowered their price objective on Larimar Therapeutics from $13.00 to $10.00 and set an “outperform” rating on the stock in a report on Tuesday.

Institutional Investors Weigh In On Larimar Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the stock. Janus Henderson Group PLC boosted its holdings in Larimar Therapeutics by 27.2% in the 3rd quarter. Janus Henderson Group PLC now owns 5,566,855 shares of the company’s stock valued at $36,379,000 after purchasing an additional 1,189,467 shares during the period. Blue Owl Capital Holdings LP raised its position in shares of Larimar Therapeutics by 11.7% during the fourth quarter. Blue Owl Capital Holdings LP now owns 4,653,040 shares of the company’s stock valued at $18,007,000 after buying an additional 486,211 shares during the last quarter. Adage Capital Partners GP L.L.C. raised its position in shares of Larimar Therapeutics by 23.5% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 2,100,000 shares of the company’s stock valued at $8,127,000 after buying an additional 399,123 shares during the last quarter. Alyeska Investment Group L.P. lifted its stake in shares of Larimar Therapeutics by 38.6% in the fourth quarter. Alyeska Investment Group L.P. now owns 984,077 shares of the company’s stock valued at $3,808,000 after buying an additional 273,920 shares during the period. Finally, Cubist Systematic Strategies LLC grew its position in Larimar Therapeutics by 278.8% during the fourth quarter. Cubist Systematic Strategies LLC now owns 233,873 shares of the company’s stock worth $905,000 after buying an additional 172,131 shares in the last quarter. Institutional investors and hedge funds own 91.92% of the company’s stock.

Larimar Therapeutics Trading Up 5.6 %

NASDAQ LRMR opened at $2.38 on Friday. Larimar Therapeutics has a 1-year low of $2.19 and a 1-year high of $11.20. The firm’s fifty day simple moving average is $3.10 and its 200-day simple moving average is $5.16. The company has a market capitalization of $151.54 million, a PE ratio of -2.07 and a beta of 0.99.

Larimar Therapeutics (NASDAQ:LRMR) last issued 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). As a group, analysts predict that Larimar Therapeutics will post -1.15 EPS for the current 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.