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

Larimar Therapeutics, Inc. (NASDAQ:LRMR) has been given an average recommendation of “Buy” by the eleven ratings firms that are presently covering the stock, MarketBeat.com reports. Ten equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $20.43.

A number of research analysts have recently issued reports on the stock. Oppenheimer started coverage on shares of Larimar Therapeutics in a research note on Wednesday, October 16th. They set an “outperform” rating and a $26.00 price target on the stock. HC Wainwright reiterated a “buy” rating and set a $15.00 target price on shares of Larimar Therapeutics in a research report on Monday. William Blair reissued an “outperform” rating on shares of Larimar Therapeutics in a report on Tuesday. Wedbush started coverage on Larimar Therapeutics in a research note on Thursday, October 3rd. They issued an “outperform” rating and a $22.00 price target on the stock. Finally, Baird R W upgraded Larimar Therapeutics to a “strong-buy” rating in a research report on Wednesday, September 4th.

Hedge Funds Weigh In On Larimar Therapeutics

Several large investors have recently added to or reduced their stakes in LRMR. Quarry LP raised its position in shares of Larimar Therapeutics by 50.0% in the 3rd quarter. Quarry LP now owns 12,000 shares of the company’s stock worth $79,000 after buying an additional 4,000 shares during the period. Quest Partners LLC increased its position in shares of 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 during the last quarter. Virtu Financial LLC bought a new stake in shares of Larimar Therapeutics in the third quarter worth $71,000. Intech Investment Management LLC bought a new position in shares of Larimar Therapeutics during the third quarter worth about $85,000. Finally, Thoroughbred Financial Services LLC acquired a new position in shares of Larimar Therapeutics in the 2nd quarter worth approximately $94,000. 91.92% of the stock is currently owned by hedge funds and other institutional investors.

Larimar Therapeutics Trading Down 4.7 %

LRMR stock opened at $6.08 on Monday. The company has a market capitalization of $387.96 million, a P/E ratio of -5.29 and a beta of 0.95. The business has a 50 day simple moving average of $7.29 and a 200-day simple moving average of $7.89. Larimar Therapeutics has a twelve month low of $3.05 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) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.37) by $0.13. During the same quarter in the previous year, the company earned ($0.21) EPS. Research analysts predict 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.