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

Shares of Larimar Therapeutics, Inc. (NASDAQ:LRMR - Get Free Report) have received a consensus recommendation of "Buy" from the ten analysts that are covering the stock, MarketBeat Ratings reports. Nine research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $20.43.

A number of analysts have commented on the stock. HC Wainwright restated a "buy" rating and set a $15.00 price target on shares of Larimar Therapeutics in a research report on Monday. Robert W. Baird assumed coverage on Larimar Therapeutics in a research report on Wednesday, September 4th. They issued an "outperform" rating and a $16.00 target price for the company. Baird R W upgraded Larimar Therapeutics to a "strong-buy" rating in a research report on Wednesday, September 4th. Oppenheimer initiated coverage on Larimar Therapeutics in a report on Wednesday, October 16th. They issued an "outperform" rating and a $26.00 price objective for the company. Finally, Wedbush initiated coverage on Larimar Therapeutics in a report on Thursday, October 3rd. They set an "outperform" rating and a $22.00 target price on the stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in LRMR. Vanguard Group Inc. grew its position in Larimar Therapeutics by 62.7% during the 1st quarter. Vanguard Group Inc. now owns 2,367,701 shares of the company's stock worth $17,971,000 after purchasing an additional 912,458 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in shares of Larimar Therapeutics by 52.2% during the first quarter. Janus Henderson Group PLC now owns 4,020,965 shares of the company's stock worth $30,459,000 after purchasing an additional 1,379,900 shares during the period. Driehaus Capital Management LLC grew its position in Larimar Therapeutics by 20.8% during the second quarter. Driehaus Capital Management LLC now owns 1,314,106 shares of the company's stock valued at $9,527,000 after purchasing an additional 225,879 shares in the last quarter. Point72 Asset Management L.P. increased its stake in Larimar Therapeutics by 37.7% in the 2nd quarter. Point72 Asset Management L.P. now owns 603,581 shares of the company's stock valued at $4,376,000 after buying an additional 165,181 shares during the period. Finally, Millennium Management LLC increased its stake in shares of Larimar Therapeutics by 30.2% in the second quarter. Millennium Management LLC now owns 1,018,135 shares of the company's stock worth $7,381,000 after acquiring an additional 235,865 shares during the last quarter. 91.92% of the stock is owned by hedge funds and other institutional investors.

Larimar Therapeutics Stock Performance

Shares of NASDAQ:LRMR traded down $0.53 during trading hours on Monday, hitting $6.16. The stock had a trading volume of 1,114,044 shares, compared to its average volume of 584,652. The stock's fifty day simple moving average is $7.38 and its 200 day simple moving average is $7.93. The firm has a market capitalization of $393.07 million, a price-to-earnings ratio of -5.56 and a beta of 0.95. Larimar Therapeutics has a 1-year low of $3.05 and a 1-year high of $13.68.

Larimar Therapeutics (NASDAQ:LRMR - Get Free Report) last announced its earnings results on Wednesday, October 30th. The company reported ($0.24) earnings per share for the quarter, beating the consensus estimate of ($0.37) by $0.13. During the same period in the prior year, the company posted ($0.21) EPS. As a group, research analysts anticipate that Larimar Therapeutics will post -1.16 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.