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

Larimar Therapeutics, Inc. (NASDAQ:LRMR - Get Free Report) has been given a consensus rating of "Buy" by the ten brokerages that are covering the firm, MarketBeat reports. Nine equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among analysts that have covered the stock in the last year is $19.63.

Several equities analysts have commented on the stock. HC Wainwright boosted their price target on shares of Larimar Therapeutics from $15.00 to $16.00 and gave the stock a "buy" rating in a research note on Tuesday, March 25th. Truist Financial initiated coverage on shares of Larimar Therapeutics in a research note on Wednesday, January 29th. They set a "buy" rating and a $18.00 price target for the company. Robert W. Baird dropped their target price on Larimar Therapeutics from $13.00 to $10.00 and set an "outperform" rating on the stock in a report on Tuesday, March 25th. Guggenheim reissued a "buy" rating and set a $26.00 price target on shares of Larimar Therapeutics in a report on Tuesday, March 25th. Finally, Citigroup reissued a "buy" rating on shares of Larimar Therapeutics in a report on Tuesday, March 25th.

Larimar Therapeutics Stock Up 5.2 %

Shares of Larimar Therapeutics stock traded up $0.10 during mid-day trading on Thursday, hitting $2.01. The stock had a trading volume of 1,158,068 shares, compared to its average volume of 675,722. Larimar Therapeutics has a 12-month low of $1.61 and a 12-month high of $11.20. The firm has a market cap of $128.70 million, a P/E ratio of -1.75 and a beta of 0.91. The firm has a 50-day moving average of $2.49 and a two-hundred day moving average of $4.50.

Larimar Therapeutics (NASDAQ:LRMR - Get Free Report) last released its quarterly earnings results on Monday, March 24th. The company reported ($0.45) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.29) by ($0.16). Sell-side analysts expect that Larimar Therapeutics will post -1.15 earnings per share for the current year.

Institutional Trading of Larimar Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in LRMR. Janus Henderson Group PLC raised its holdings in Larimar Therapeutics by 15.7% in the 4th quarter. Janus Henderson Group PLC now owns 6,443,286 shares of the company's stock valued at $24,936,000 after acquiring an additional 876,431 shares during the last quarter. Blue Owl Capital Holdings LP increased its position in shares of Larimar Therapeutics by 11.7% during the fourth quarter. Blue Owl Capital Holdings LP now owns 4,653,040 shares of the company's stock worth $18,007,000 after acquiring an additional 486,211 shares during the last quarter. Adage Capital Partners GP L.L.C. raised its holdings in Larimar Therapeutics by 23.5% in the fourth 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 acquiring an additional 399,123 shares in the last quarter. Alyeska Investment Group L.P. lifted its holdings in Larimar Therapeutics by 38.6% during the 4th quarter. Alyeska Investment Group L.P. now owns 984,077 shares of the company's stock worth $3,808,000 after buying an additional 273,920 shares during the last quarter. Finally, Cubist Systematic Strategies LLC boosted its holdings in shares of Larimar Therapeutics by 278.8% in the 4th quarter. Cubist Systematic Strategies LLC now owns 233,873 shares of the company's stock valued at $905,000 after buying an additional 172,131 shares during the period. 91.92% of the stock is currently owned by hedge funds and other 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.