Larimar Therapeutics, Inc. (NASDAQ:LRMR) Given Consensus Recommendation of “Buy” by Analysts

Larimar Therapeutics, Inc. (NASDAQ:LRMR) has been assigned an average rating of “Buy” from the eleven research firms that are currently covering the stock, Marketbeat reports. Ten research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $20.13.

Several equities analysts have weighed in on the company. HC Wainwright reissued a “buy” rating and set a $15.00 price target on shares of Larimar Therapeutics in a research report on Friday, January 24th. Truist Financial assumed coverage on Larimar Therapeutics in a research report on Wednesday, January 29th. They set a “buy” rating and a $18.00 price target for the company.

Larimar Therapeutics Stock Performance

Shares of LRMR stock opened at $2.54 on Friday. The stock has a fifty day moving average price of $3.18 and a 200 day moving average price of $5.30. The stock has a market cap of $162.07 million, a PE ratio of -2.21 and a beta of 0.99. Larimar Therapeutics has a 1 year low of $2.29 and a 1 year high of $11.20.

Institutional Investors Weigh In On Larimar Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in LRMR. Quest Partners LLC grew its position in shares of Larimar Therapeutics by 171.1% in the third quarter. Quest Partners LLC now owns 9,183 shares of the company’s stock valued at $60,000 after purchasing an additional 5,796 shares during the period. Intech Investment Management LLC purchased a new stake in shares of Larimar Therapeutics in the third quarter valued at $85,000. Janus Henderson Group PLC grew its position in shares of Larimar Therapeutics by 27.2% in the third 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. Quarry LP grew its position in shares of Larimar Therapeutics by 50.0% in the third quarter. Quarry LP now owns 12,000 shares of the company’s stock valued at $79,000 after purchasing an additional 4,000 shares during the period. Finally, Sphera Funds Management LTD. grew its position in shares of Larimar Therapeutics by 32.6% in the third quarter. Sphera Funds Management LTD. now owns 414,478 shares of the company’s stock valued at $2,715,000 after purchasing an additional 102,009 shares during the period. Hedge funds and other institutional investors 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.