Larimar Therapeutics, Inc. (NASDAQ:LRMR) Receives $19.63 Average PT from Analysts

Shares of Larimar Therapeutics, Inc. (NASDAQ:LRMR) have been given an average recommendation of “Buy” by the ten ratings firms that are covering the firm, MarketBeat.com reports. Nine 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 analysts that have updated their coverage on the stock in the last year is $19.63.

A number of equities research analysts have weighed in on the stock. HC Wainwright boosted their target price on shares of Larimar Therapeutics from $15.00 to $16.00 and gave the company a “buy” rating in a research note on Tuesday, March 25th. Guggenheim reiterated a “buy” rating and set a $26.00 price objective on shares of Larimar Therapeutics in a research report on Tuesday, March 25th. Citigroup reissued a “buy” rating on shares of Larimar Therapeutics in a research report on Tuesday, March 25th. Truist Financial initiated coverage on shares of Larimar Therapeutics in a research report on Wednesday, January 29th. They set a “buy” rating and a $18.00 price target for the company. Finally, 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 note on Tuesday, March 25th.

Institutional Trading of Larimar Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Barclays PLC lifted its holdings in Larimar Therapeutics by 321.2% in the 3rd quarter. Barclays PLC now owns 60,032 shares of the company’s stock worth $393,000 after purchasing an additional 45,781 shares in the last quarter. SG Americas Securities LLC grew its holdings in Larimar Therapeutics by 35.1% during the 4th quarter. SG Americas Securities LLC now owns 19,391 shares of the company’s stock valued at $75,000 after purchasing an additional 5,042 shares during the last quarter. XTX Topco Ltd purchased a new stake in shares of Larimar Therapeutics in the third quarter worth approximately $100,000. Franklin Resources Inc. lifted its position in shares of 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 lifted its holdings in Larimar Therapeutics by 80.1% during the 3rd quarter. Jane Street Group LLC now owns 113,783 shares of the company’s stock valued at $745,000 after buying an additional 50,622 shares in the last quarter. 91.92% of the stock is owned by hedge funds and other institutional investors.

Larimar Therapeutics Trading Up 5.2 %

Larimar Therapeutics stock opened at $2.01 on Thursday. The company has a market capitalization of $128.70 million, a price-to-earnings ratio of -1.75 and a beta of 0.91. Larimar Therapeutics has a 12 month low of $1.61 and a 12 month high of $11.20. The business’s fifty day simple moving average is $2.49 and its two-hundred day simple moving average is $4.50.

Larimar Therapeutics (NASDAQ:LRMR) last posted its earnings results on Monday, March 24th. The company reported ($0.45) EPS for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.16). On average, equities research analysts predict that Larimar Therapeutics will post -1.15 EPS for the current 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.