Larimar Therapeutics, Inc. (NASDAQ:LRMR) Given Consensus Rating of “Buy” by Analysts

Larimar Therapeutics, Inc. (NASDAQ:LRMR) has been assigned a consensus rating of “Buy” from the nine research firms that are currently covering the company, MarketBeat Ratings reports. Eight investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $19.67.

Several analysts have issued reports on the stock. HC Wainwright raised their price target on shares of Larimar Therapeutics from $15.00 to $16.00 and gave the stock a “buy” rating in a research report on Tuesday, March 25th. Citigroup restated a “buy” rating on shares of Larimar Therapeutics in a research report on Tuesday, March 25th. Guggenheim restated a “buy” rating and issued a $26.00 price target on shares of Larimar Therapeutics in a research report on Tuesday, March 25th. Finally, Robert W. Baird decreased their price target on shares of Larimar Therapeutics from $13.00 to $10.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 25th.

Institutional Trading of Larimar Therapeutics

Several institutional investors have recently made changes to their positions in the business. Rhumbline Advisers boosted its position in shares of Larimar Therapeutics by 15.7% during the 1st quarter. Rhumbline Advisers now owns 65,018 shares of the company’s stock valued at $140,000 after acquiring an additional 8,818 shares in the last quarter. Acadian Asset Management LLC acquired a new stake in shares of Larimar Therapeutics during the 1st quarter valued at about $113,000. AQR Capital Management LLC bought a new position in Larimar Therapeutics during the 1st quarter valued at about $241,000. Alyeska Investment Group L.P. lifted its holdings in Larimar Therapeutics by 46.6% during the 1st quarter. Alyeska Investment Group L.P. now owns 1,442,473 shares of the company’s stock valued at $3,101,000 after purchasing an additional 458,396 shares during the last quarter. Finally, Cubist Systematic Strategies LLC lifted its holdings in Larimar Therapeutics by 51.5% during the 1st quarter. Cubist Systematic Strategies LLC now owns 354,232 shares of the company’s stock valued at $762,000 after purchasing an additional 120,359 shares during the last quarter. 91.92% of the stock is currently owned by institutional investors and hedge funds.

Larimar Therapeutics Trading Up 9.4%

NASDAQ:LRMR opened at $2.91 on Friday. Larimar Therapeutics has a 1 year low of $1.61 and a 1 year high of $11.20. The firm’s fifty day simple moving average is $2.15 and its 200 day simple moving average is $3.20. The firm has a market capitalization of $186.32 million, a PE ratio of -2.53 and a beta of 0.79.

Larimar Therapeutics (NASDAQ:LRMR) last posted its quarterly earnings results on Wednesday, April 30th. The company reported ($0.46) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.42) by ($0.04). As a group, analysts anticipate that Larimar Therapeutics will post -1.15 EPS for the current fiscal 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.