Larimar Therapeutics, Inc. (NASDAQ:LRMR) Receives Average Recommendation of "Buy" from Brokerages

Shares of Larimar Therapeutics, Inc. (NASDAQ:LRMR - Get Free Report) have earned a consensus rating of "Buy" from the eleven research firms that are currently covering the stock, MarketBeat Ratings reports. Ten 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 price objective among brokers that have issued ratings on the stock in the last year is $20.43.

LRMR has been the subject of several research analyst reports. Baird R W raised Larimar Therapeutics to a "strong-buy" rating in a report on Wednesday, September 4th. William Blair reissued an "outperform" rating on shares of Larimar Therapeutics in a research report on Tuesday, November 19th. Robert W. Baird assumed coverage on Larimar Therapeutics in a report on Wednesday, September 4th. They issued an "outperform" rating and a $16.00 target price on the stock. Oppenheimer started coverage on Larimar Therapeutics in a report on Wednesday, October 16th. They set an "outperform" rating and a $26.00 price target for the company. Finally, Wedbush assumed coverage on Larimar Therapeutics in a research note on Thursday, October 3rd. They issued an "outperform" rating and a $22.00 price objective on the stock.

Institutional Trading of Larimar Therapeutics

Several hedge funds have recently modified their holdings of the company. Quarry LP increased its position in Larimar Therapeutics by 966.7% in the second quarter. Quarry LP now owns 8,000 shares of the company's stock worth $58,000 after purchasing an additional 7,250 shares during the last quarter. Quest Partners LLC increased its holdings in shares of Larimar Therapeutics by 171.1% in the 3rd quarter. Quest Partners LLC now owns 9,183 shares of the company's stock worth $60,000 after buying an additional 5,796 shares during the last quarter. Virtu Financial LLC bought a new position in shares of Larimar Therapeutics in the 3rd quarter valued at about $71,000. Intech Investment Management LLC bought a new position in shares of Larimar Therapeutics in the 3rd quarter valued at about $85,000. Finally, Thoroughbred Financial Services LLC purchased a new position in Larimar Therapeutics in the second quarter worth about $94,000. 91.92% of the stock is owned by hedge funds and other institutional investors.

Larimar Therapeutics Price Performance

NASDAQ LRMR traded up $0.06 during trading hours on Friday, reaching $6.17. 435,255 shares of the company's stock traded hands, compared to its average volume of 590,627. The firm has a 50-day simple moving average of $7.18 and a 200 day simple moving average of $7.75. Larimar Therapeutics has a 52-week low of $3.80 and a 52-week high of $13.68. The firm has a market cap of $393.71 million, a PE ratio of -5.31 and a beta of 0.86.

Larimar Therapeutics (NASDAQ:LRMR - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The company reported ($0.24) EPS for the quarter, beating the consensus estimate of ($0.37) by $0.13. During the same quarter in the previous year, the company earned ($0.21) EPS. Sell-side analysts forecast that Larimar Therapeutics will post -1.16 EPS for the current fiscal year.

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.