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

Shares of Larimar Therapeutics, Inc. (NASDAQ:LRMR) have been given an average rating of “Moderate Buy” by the nine ratings firms that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating and eight have given a buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $16.7143.

Several research firms have weighed in on LRMR. Oppenheimer dropped their price objective on shares of 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 reaffirmed a “sell (d-)” rating on shares of Larimar Therapeutics in a research note on Wednesday, October 8th. Robert W. Baird cut their price objective on Larimar Therapeutics from $10.00 to $7.00 and set an “outperform” rating for the company in a report on Tuesday, September 30th. Wedbush lowered 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. Finally, JMP Securities dropped their target price on Larimar Therapeutics from $22.00 to $18.00 and set a “market outperform” rating on the stock in a research report on Friday, August 15th.

Institutional Trading of Larimar Therapeutics

Institutional investors have recently added to or reduced their stakes in the business. Deerfield Management Company L.P. increased its stake in shares of Larimar Therapeutics by 44.2% during the 3rd quarter. Deerfield Management Company L.P. now owns 30,606,974 shares of the company’s stock worth $98,861,000 after purchasing an additional 9,375,000 shares during the last quarter. Blue Owl Capital Holdings LP lifted its stake in shares of Larimar Therapeutics by 18.8% in the 3rd quarter. Blue Owl Capital Holdings LP now owns 5,853,040 shares of the company’s stock valued at $18,905,000 after purchasing an additional 925,000 shares during the last quarter. Opaleye Management Inc. boosted its holdings in Larimar Therapeutics by 114.7% in the second quarter. Opaleye Management Inc. now owns 4,110,000 shares of the company’s stock worth $11,878,000 after purchasing an additional 2,195,923 shares in the last quarter. Vanguard Group Inc. increased its position in Larimar Therapeutics by 44.2% during the third quarter. Vanguard Group Inc. now owns 3,087,840 shares of the company’s stock worth $9,974,000 after buying an additional 945,809 shares during the last quarter. Finally, Woodline Partners LP raised its holdings in Larimar Therapeutics by 160.6% during the third quarter. Woodline Partners LP now owns 1,622,850 shares of the company’s stock valued at $5,242,000 after buying an additional 1,000,168 shares in the last quarter. 91.92% of the stock is currently owned by institutional investors and hedge funds.

Larimar Therapeutics Trading Up 6.1%

Shares of Larimar Therapeutics stock opened at $3.68 on Friday. Larimar Therapeutics has a 1 year low of $1.61 and a 1 year high of $6.91. The company has a market cap of $304.63 million, a P/E ratio of -1.91 and a beta of 1.05. The stock has a 50-day moving average price of $3.90 and a 200 day moving average price of $3.53.

Larimar Therapeutics (NASDAQ:LRMR) last issued 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 analysts forecast that Larimar Therapeutics will post -1.15 earnings per share for the current fiscal year.

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.