Larimar Therapeutics, Inc. (NASDAQ:LRMR) Receives $16.71 Average Price Target from Brokerages

Shares of Larimar Therapeutics, Inc. (NASDAQ:LRMR) have received a consensus recommendation of “Moderate Buy” from the ten research firms that are covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, eight have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $16.7143.

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

Larimar Therapeutics Stock Performance

LRMR opened at $3.13 on Friday. The company has a 50-day moving average of $3.59 and a 200-day moving average of $3.78. Larimar Therapeutics has a 1-year low of $1.61 and a 1-year high of $5.37. The company has a market capitalization of $259.10 million, a P/E ratio of -1.62 and a beta of 1.06.

Larimar Therapeutics (NASDAQ:LRMR) last released its quarterly 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). As a group, sell-side analysts expect that Larimar Therapeutics will post -1.15 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in LRMR. AQR Capital Management LLC purchased a new stake in Larimar Therapeutics during the first quarter valued at about $241,000. Acadian Asset Management LLC purchased a new stake in Larimar Therapeutics during the first quarter valued at about $113,000. Rhumbline Advisers lifted its stake in shares of Larimar Therapeutics by 15.7% in the 1st quarter. Rhumbline Advisers now owns 65,018 shares of the company’s stock valued at $140,000 after acquiring an additional 8,818 shares during the last quarter. Wealth Enhancement Advisory Services LLC purchased a new position in Larimar Therapeutics in the 2nd quarter worth approximately $44,000. Finally, Assenagon Asset Management S.A. raised its holdings in Larimar Therapeutics by 17.6% during the 2nd quarter. Assenagon Asset Management S.A. now owns 256,861 shares of the company’s stock valued at $742,000 after buying an additional 38,427 shares during the last quarter. 91.92% of the stock is owned by institutional investors.

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.