Larimar Therapeutics, Inc. (NASDAQ:LRMR) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Larimar Therapeutics, Inc. (NASDAQ:LRMR) have earned an average rating of “Moderate Buy” from the nine ratings firms that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation and eight have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $16.7143.

Several brokerages have commented on LRMR. Oppenheimer cut their target price on Larimar Therapeutics from $26.00 to $21.00 and set an “outperform” rating on the stock in a research note on Thursday, October 2nd. Weiss Ratings restated a “sell (d-)” rating on shares of Larimar Therapeutics in a report on Wednesday, October 8th. Wedbush reduced their price objective on shares of Larimar Therapeutics from $15.00 to $11.00 and set an “outperform” rating on the stock in a research report on Tuesday, September 30th. Finally, Robert W. Baird lowered their price target on Larimar Therapeutics from $10.00 to $7.00 and set an “outperform” rating for the company in a report on Tuesday, September 30th.

Larimar Therapeutics Price Performance

LRMR stock opened at $4.00 on Tuesday. The company has a market cap of $331.12 million, a P/E ratio of -2.07 and a beta of 1.05. The firm has a 50-day moving average of $3.76 and a 200 day moving average of $3.69. Larimar Therapeutics has a 1 year low of $1.61 and a 1 year high of $5.37.

Larimar Therapeutics (NASDAQ:LRMR) last released its earnings results on Wednesday, November 5th. The company reported ($0.61) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.22). On average, equities research analysts expect that Larimar Therapeutics will post -1.15 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Larimar Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets lifted its stake in shares of Larimar Therapeutics by 75.8% during the third quarter. BNP Paribas Financial Markets now owns 10,146 shares of the company’s stock worth $33,000 after buying an additional 4,376 shares during the period. B.O.S.S. Retirement Advisors LLC acquired a new stake in shares of Larimar Therapeutics in the third quarter valued at about $41,000. Savant Capital LLC acquired a new position in Larimar Therapeutics in the 2nd quarter valued at $39,000. Wealth Enhancement Advisory Services LLC acquired a new stake in Larimar Therapeutics in the 2nd quarter valued at about $44,000. Finally, Walleye Capital LLC purchased a new position in shares of Larimar Therapeutics during the 1st quarter worth $37,000. 91.92% of the stock is currently owned by hedge funds and other institutional investors.

About Larimar Therapeutics

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. Larimar Therapeutics, Inc is based in Bala Cynwyd, Pennsylvania.