Larimar Therapeutics, Inc. (NASDAQ:LRMR) Receives $19.63 Consensus Price Target from Analysts

Larimar Therapeutics, Inc. (NASDAQ:LRMR) has been assigned a consensus rating of “Buy” from the ten analysts that are currently covering the company, Marketbeat Ratings reports. Nine analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $19.63.

A number of equities analysts recently issued reports on LRMR shares. Truist Financial initiated coverage on Larimar Therapeutics in a report on Wednesday, January 29th. They set a “buy” rating and a $18.00 price target on the stock. HC Wainwright upped their price target on Larimar Therapeutics from $15.00 to $16.00 and gave the stock a “buy” rating in a research note on Tuesday, March 25th. Robert W. Baird lowered their price objective on shares of Larimar Therapeutics from $13.00 to $10.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 25th. Citigroup restated a “buy” rating on shares of Larimar Therapeutics in a research report on Tuesday, March 25th. Finally, Guggenheim reaffirmed a “buy” rating and issued a $26.00 target price on shares of Larimar Therapeutics in a report on Tuesday, March 25th.

Larimar Therapeutics Trading Up 3.5 %

Shares of NASDAQ LRMR opened at $1.91 on Thursday. The stock has a market cap of $121.97 million, a P/E ratio of -1.66 and a beta of 0.91. Larimar Therapeutics has a twelve month low of $1.61 and a twelve month high of $11.20. The stock has a 50 day moving average of $2.51 and a two-hundred day moving average of $4.54.

Larimar Therapeutics (NASDAQ:LRMR) last released its quarterly earnings results on Monday, March 24th. The company reported ($0.45) EPS for the quarter, missing the consensus estimate of ($0.29) by ($0.16). As a group, research analysts predict that Larimar Therapeutics will post -1.15 earnings per share for the current year.

Institutional Trading of Larimar Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Barclays PLC increased its holdings in Larimar Therapeutics by 321.2% in the third quarter. Barclays PLC now owns 60,032 shares of the company’s stock valued at $393,000 after buying an additional 45,781 shares in the last quarter. SG Americas Securities LLC grew its holdings in shares of Larimar Therapeutics by 35.1% in the 4th quarter. SG Americas Securities LLC now owns 19,391 shares of the company’s stock worth $75,000 after acquiring an additional 5,042 shares during the period. XTX Topco Ltd purchased a new position in Larimar Therapeutics in the 3rd quarter valued at approximately $100,000. Franklin Resources Inc. raised its holdings in Larimar Therapeutics by 21.9% during the third quarter. Franklin Resources Inc. now owns 19,723 shares of the company’s stock worth $143,000 after purchasing an additional 3,549 shares during the last quarter. Finally, Jane Street Group LLC boosted its position in Larimar Therapeutics by 80.1% during the third quarter. Jane Street Group LLC now owns 113,783 shares of the company’s stock worth $745,000 after purchasing an additional 50,622 shares in the last quarter. Institutional investors and hedge funds own 91.92% of the company’s stock.

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.