Analysts Set Larimar Therapeutics, Inc. (NASDAQ:LRMR) Target Price at $20.13

Larimar Therapeutics, Inc. (NASDAQ:LRMR) has been assigned an average rating of “Buy” from the twelve ratings firms that are covering the company, MarketBeat Ratings reports. Eleven research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $20.13.

Several equities research analysts have recently issued reports on the company. William Blair restated an “outperform” rating on shares of Larimar Therapeutics in a report on Tuesday, November 19th. HC Wainwright reissued a “buy” rating and issued a $15.00 price objective on shares of Larimar Therapeutics in a research report on Friday, January 24th. Oppenheimer assumed coverage on Larimar Therapeutics in a report on Wednesday, October 16th. They set an “outperform” rating and a $26.00 target price on the stock. Finally, Truist Financial initiated coverage on shares of Larimar Therapeutics in a report on Wednesday, January 29th. They issued a “buy” rating and a $18.00 price objective on the stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. China Universal Asset Management Co. Ltd. bought a new position in Larimar Therapeutics during the 4th quarter worth $52,000. SG Americas Securities LLC boosted its holdings in shares of Larimar Therapeutics by 35.1% in the fourth quarter. SG Americas Securities LLC now owns 19,391 shares of the company’s stock valued at $75,000 after acquiring an additional 5,042 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Larimar Therapeutics by 18.7% during the 3rd 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 period. Franklin Resources Inc. grew its holdings in Larimar Therapeutics by 21.9% during the third quarter. Franklin Resources Inc. now owns 19,723 shares of the company’s stock worth $143,000 after acquiring an additional 3,549 shares during the period. Finally, Virtu Financial LLC bought a new stake in shares of Larimar Therapeutics in the 3rd quarter worth approximately $71,000. 91.92% of the stock is currently owned by institutional investors.

Larimar Therapeutics Price Performance

Larimar Therapeutics stock opened at $3.82 on Friday. The stock has a market capitalization of $243.75 million, a P/E ratio of -3.32 and a beta of 0.91. Larimar Therapeutics has a 12-month low of $3.01 and a 12-month high of $13.68. The firm’s 50-day moving average is $4.44 and its two-hundred day moving average is $6.47.

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.