Larimar Therapeutics, Inc. (NASDAQ:LRMR) Receives $18.50 Consensus Target Price from Analysts

Larimar Therapeutics, Inc. (NASDAQ:LRMR) has been assigned an average recommendation of “Buy” from the nine brokerages that are presently covering the company, MarketBeat.com reports. Eight analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokerages that have covered the stock in the last year is $18.50.

LRMR has been the subject of a number of analyst reports. HC Wainwright increased their price target on shares of Larimar Therapeutics from $15.00 to $16.00 and gave the company a “buy” rating in a report on Tuesday, March 25th. Guggenheim reaffirmed a “buy” rating and issued a $26.00 price objective on shares of Larimar Therapeutics in a research note on Tuesday, June 24th. Wedbush dropped their target price on Larimar Therapeutics from $17.00 to $15.00 and set an “outperform” rating for the company in a report on Tuesday, June 24th. Robert W. Baird cut their target price on Larimar Therapeutics from $13.00 to $10.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 25th. Finally, Citigroup restated a “buy” rating on shares of Larimar Therapeutics in a research report on Tuesday, June 24th.

Larimar Therapeutics Stock Performance

LRMR stock opened at $3.14 on Tuesday. The firm has a fifty day moving average price of $2.47 and a 200 day moving average price of $2.83. Larimar Therapeutics has a fifty-two week low of $1.61 and a fifty-two week high of $11.20. The firm has a market cap of $201.05 million, a PE ratio of -2.11 and a beta of 0.86.

Larimar Therapeutics (NASDAQ:LRMR) last released its quarterly earnings data on Wednesday, April 30th. The company reported ($0.46) EPS for the quarter, missing the consensus estimate of ($0.42) by ($0.04). On average, equities analysts predict that Larimar Therapeutics will post -1.15 EPS for the current year.

Institutional Investors Weigh In On Larimar Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of LRMR. Janus Henderson Group PLC boosted its stake in shares of Larimar Therapeutics by 15.7% during the fourth quarter. Janus Henderson Group PLC now owns 6,443,286 shares of the company’s stock valued at $24,936,000 after purchasing an additional 876,431 shares during the period. Blue Owl Capital Holdings LP increased its stake in Larimar Therapeutics by 11.7% in the 4th quarter. Blue Owl Capital Holdings LP now owns 4,653,040 shares of the company’s stock worth $18,007,000 after buying an additional 486,211 shares during the period. Alyeska Investment Group L.P. lifted its holdings in Larimar Therapeutics by 46.6% during the 1st quarter. Alyeska Investment Group L.P. now owns 1,442,473 shares of the company’s stock valued at $3,101,000 after buying an additional 458,396 shares in the last quarter. Adage Capital Partners GP L.L.C. boosted its position in Larimar Therapeutics by 23.5% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 2,100,000 shares of the company’s stock valued at $8,127,000 after buying an additional 399,123 shares during the period. Finally, Nuveen LLC purchased a new stake in Larimar Therapeutics in the 1st quarter valued at about $376,000. 91.92% of the stock is owned by 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.