Larimar Therapeutics, Inc. (NASDAQ:LRMR) Receives $20.13 Consensus Target Price from Brokerages

Shares of Larimar Therapeutics, Inc. (NASDAQ:LRMR - Get Free Report) have received an average rating of "Buy" from the twelve ratings firms that are presently covering the company, Marketbeat Ratings reports. Eleven research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $20.22.

Several equities analysts recently weighed in on the company. Robert W. Baird reduced their target price on Larimar Therapeutics from $13.00 to $10.00 and set an "outperform" rating on the stock in a research report on Tuesday. Truist Financial started coverage on shares of Larimar Therapeutics in a research report on Wednesday, January 29th. They issued a "buy" rating and a $18.00 target price on the stock. Guggenheim reaffirmed a "buy" rating and set a $26.00 price target on shares of Larimar Therapeutics in a research report on Tuesday. Finally, HC Wainwright lifted their price target on shares of Larimar Therapeutics from $15.00 to $16.00 and gave the company a "buy" rating in a report on Tuesday.

Larimar Therapeutics Price Performance

NASDAQ:LRMR traded down $0.06 on Friday, reaching $2.26. The stock had a trading volume of 836,807 shares, compared to its average volume of 627,521. Larimar Therapeutics has a 12-month low of $2.20 and a 12-month high of $11.20. The company has a market cap of $143.88 million, a price-to-earnings ratio of -1.96 and a beta of 0.99. The firm's fifty day moving average is $3.14 and its two-hundred day moving average is $5.20.

Remove Ads

Larimar Therapeutics (NASDAQ:LRMR - Get Free Report) last announced its 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). As a group, research analysts forecast that Larimar Therapeutics will post -1.15 earnings per share for the current fiscal year.

Institutional Trading of Larimar Therapeutics

Institutional investors have recently added to or reduced their stakes in the business. Janus Henderson Group PLC lifted its stake in shares of Larimar Therapeutics by 27.2% during the third quarter. Janus Henderson Group PLC now owns 5,566,855 shares of the company's stock worth $36,379,000 after purchasing an additional 1,189,467 shares in the last quarter. Blue Owl Capital Holdings LP lifted its position in Larimar Therapeutics by 11.7% during the 4th 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 in the last quarter. Adage Capital Partners GP L.L.C. lifted its position in Larimar Therapeutics by 23.5% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 2,100,000 shares of the company's stock worth $8,127,000 after acquiring an additional 399,123 shares in the last quarter. Alyeska Investment Group L.P. boosted its holdings in Larimar Therapeutics by 38.6% in the 4th quarter. Alyeska Investment Group L.P. now owns 984,077 shares of the company's stock worth $3,808,000 after acquiring an additional 273,920 shares during the period. Finally, Cubist Systematic Strategies LLC grew its position in Larimar Therapeutics by 278.8% in the fourth quarter. Cubist Systematic Strategies LLC now owns 233,873 shares of the company's stock valued at $905,000 after acquiring an additional 172,131 shares in the last quarter. 91.92% of the stock is owned by hedge funds and other institutional investors.

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.