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

Shares of Larimar Therapeutics, Inc. (NASDAQ:LRMR) have earned an average recommendation of “Moderate Buy” from the nine analysts that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation and eight have given a buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $16.7143.

LRMR has been the subject of a number of recent research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Larimar Therapeutics in a report on Wednesday, October 8th. Oppenheimer dropped their price target on Larimar Therapeutics from $26.00 to $21.00 and set an “outperform” rating for the company in a research report on Thursday, October 2nd. Wedbush reduced their price objective on Larimar Therapeutics from $15.00 to $11.00 and set an “outperform” rating on the stock in a research report on Tuesday, September 30th. Finally, Robert W. Baird reduced their price objective on Larimar Therapeutics from $10.00 to $7.00 and set an “outperform” rating on the stock in a research report on Tuesday, September 30th.

Larimar Therapeutics Stock Performance

Shares of LRMR stock opened at $3.96 on Tuesday. Larimar Therapeutics has a fifty-two week low of $1.61 and a fifty-two week high of $5.37. The stock’s fifty day moving average is $3.73 and its two-hundred day moving average is $3.73. The firm has a market capitalization of $327.81 million, a P/E ratio of -2.05 and a beta of 1.05.

Larimar Therapeutics (NASDAQ:LRMR) last issued its earnings results on Wednesday, November 5th. The company reported ($0.61) EPS 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 year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Cubist Systematic Strategies LLC lifted its holdings in Larimar Therapeutics by 51.5% in the first quarter. Cubist Systematic Strategies LLC now owns 354,232 shares of the company’s stock valued at $762,000 after acquiring an additional 120,359 shares during the last quarter. Alyeska Investment Group L.P. increased its stake in Larimar Therapeutics by 46.6% during the first quarter. Alyeska Investment Group L.P. now owns 1,442,473 shares of the company’s stock worth $3,101,000 after acquiring an additional 458,396 shares during the last quarter. Nuveen LLC purchased a new stake in Larimar Therapeutics in the first quarter valued at $376,000. Ethic Inc. purchased a new stake in Larimar Therapeutics in the second quarter valued at $187,000. Finally, Wealth Enhancement Advisory Services LLC acquired a new position in shares of Larimar Therapeutics in the 2nd quarter valued at $44,000. 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. Larimar Therapeutics, Inc is based in Bala Cynwyd, Pennsylvania.