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

Shares of Larimar Therapeutics, Inc. (NASDAQ:LRMR) have earned an average recommendation of “Moderate Buy” from the ten research firms that are presently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, eight have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $16.7143.

LRMR has been the topic of several research reports. Robert W. Baird lowered their price target on shares of Larimar Therapeutics from $10.00 to $7.00 and set an “outperform” rating on the stock in a research report on Tuesday, September 30th. Wedbush reduced their target price on Larimar Therapeutics from $15.00 to $11.00 and set an “outperform” rating on the stock in a research note on Tuesday, September 30th. Leerink Partnrs raised Larimar Therapeutics to a “strong-buy” rating in a research report on Monday, January 5th. Oppenheimer cut their price target on Larimar Therapeutics from $26.00 to $21.00 and set an “outperform” rating for the company in a report on Thursday, October 2nd. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Larimar Therapeutics in a research report on Wednesday, October 8th.

Larimar Therapeutics Stock Down 4.0%

Larimar Therapeutics stock opened at $3.13 on Friday. Larimar Therapeutics has a 52 week low of $1.61 and a 52 week high of $5.37. The firm’s 50-day simple moving average is $3.60 and its 200 day simple moving average is $3.77. The firm has a market capitalization of $259.10 million, a PE ratio of -1.62 and a beta of 1.06.

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

Institutional Investors Weigh In On Larimar Therapeutics

Several hedge funds have recently modified their holdings of LRMR. SG Americas Securities LLC acquired a new position in shares of Larimar Therapeutics in the fourth quarter valued at approximately $60,000. Cantor Fitzgerald L. P. purchased a new stake in Larimar Therapeutics in the 3rd quarter worth approximately $412,000. Coldstream Capital Management Inc. acquired a new position in Larimar Therapeutics in the 3rd quarter valued at $57,000. Woodline Partners LP raised its holdings in Larimar Therapeutics by 160.6% in the 3rd quarter. Woodline Partners LP now owns 1,622,850 shares of the company’s stock valued at $5,242,000 after acquiring an additional 1,000,168 shares during the last quarter. Finally, Alliancebernstein L.P. lifted its stake in shares of Larimar Therapeutics by 19.5% during the 3rd quarter. Alliancebernstein L.P. now owns 74,530 shares of the company’s stock worth $241,000 after purchasing an additional 12,150 shares during the period. 91.92% of the stock is owned by institutional investors and hedge funds.

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