Analysts Set Larimar Therapeutics, Inc. (NASDAQ:LRMR) PT at $20.00

Larimar Therapeutics, Inc. (NASDAQ:LRMR) has been given a consensus rating of “Buy” by the nine ratings firms that are currently covering the stock, MarketBeat Ratings reports. Eight analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $19.50.

LRMR has been the subject of several research reports. Baird R W upgraded shares of Larimar Therapeutics to a “strong-buy” rating in a research report on Wednesday, September 4th. Robert W. Baird started coverage on shares of Larimar Therapeutics in a report on Wednesday, September 4th. They issued an “outperform” rating and a $16.00 target price for the company. Wedbush started coverage on shares of Larimar Therapeutics in a report on Thursday. They issued an “outperform” rating and a $22.00 target price for the company. Finally, HC Wainwright started coverage on shares of Larimar Therapeutics in a report on Wednesday. They issued a “buy” rating and a $15.00 target price for the company.

Larimar Therapeutics Trading Up 3.7 %

NASDAQ:LRMR opened at $6.52 on Friday. Larimar Therapeutics has a twelve month low of $2.18 and a twelve month high of $13.68. The company has a 50-day moving average of $7.52 and a 200-day moving average of $7.82. The firm has a market cap of $415.99 million, a price-to-earnings ratio of -6.72 and a beta of 0.98.

Larimar Therapeutics (NASDAQ:LRMR) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($0.34) earnings per share for the quarter, missing the consensus estimate of ($0.32) by ($0.02). On average, research analysts forecast that Larimar Therapeutics will post -1.4 earnings per share for the current year.

Institutional Trading of Larimar Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the company. Quarry LP grew its stake in Larimar Therapeutics by 966.7% in the second quarter. Quarry LP now owns 8,000 shares of the company’s stock valued at $58,000 after purchasing an additional 7,250 shares in the last quarter. Thoroughbred Financial Services LLC acquired a new stake in shares of Larimar Therapeutics during the 2nd quarter valued at about $94,000. SG Americas Securities LLC acquired a new stake in shares of Larimar Therapeutics during the 3rd quarter valued at about $94,000. EntryPoint Capital LLC bought a new stake in shares of Larimar Therapeutics in the 1st quarter valued at approximately $106,000. Finally, AQR Capital Management LLC acquired a new position in Larimar Therapeutics in the second quarter worth approximately $113,000. 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.