Brokerages Set Larimar Therapeutics, Inc. (NASDAQ:LRMR) PT at $20.43

Larimar Therapeutics, Inc. (NASDAQ:LRMR - Get Free Report) has been given a consensus recommendation of "Buy" by the eleven research firms that are covering the firm, Marketbeat Ratings reports. Ten research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $20.43.

A number of brokerages recently issued reports on LRMR. HC Wainwright reiterated a "buy" rating and set a $15.00 target price on shares of Larimar Therapeutics in a research report on Monday, December 16th. William Blair reiterated an "outperform" rating on shares of Larimar Therapeutics in a research note on Tuesday, November 19th. Wedbush initiated coverage on Larimar Therapeutics in a research report on Thursday, October 3rd. They set an "outperform" rating and a $22.00 price target on the stock. Finally, Oppenheimer began coverage on Larimar Therapeutics in a research report on Wednesday, October 16th. They issued an "outperform" rating and a $26.00 price objective for the company.

Hedge Funds Weigh In On Larimar Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the business. Quarry LP raised its holdings 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 period. Quest Partners LLC increased its position 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 valued at $60,000 after buying an additional 5,796 shares in the last quarter. Virtu Financial LLC acquired a new stake in Larimar Therapeutics during the 3rd quarter worth $71,000. Intech Investment Management LLC bought a new position in Larimar Therapeutics during the third quarter worth about $85,000. Finally, SG Americas Securities LLC acquired a new position in shares of Larimar Therapeutics in the 3rd quarter valued at approximately $94,000. 91.92% of the stock is owned by institutional investors.

Larimar Therapeutics Stock Performance

NASDAQ LRMR remained flat at $3.96 during trading on Tuesday. The company's stock had a trading volume of 420,695 shares, compared to its average volume of 545,149. Larimar Therapeutics has a 12 month low of $3.01 and a 12 month high of $13.68. The firm has a market capitalization of $252.68 million, a P/E ratio of -3.44 and a beta of 0.91. The stock has a fifty day moving average price of $6.09 and a 200 day moving average price of $7.20.

Larimar Therapeutics (NASDAQ:LRMR - Get Free Report) last announced its quarterly earnings results 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 period last year, the business posted ($0.21) earnings per share. Equities research analysts forecast that Larimar Therapeutics will post -1.16 earnings per share 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.