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

Shares of Larimar Therapeutics, Inc. (NASDAQ:LRMR) have been given an average recommendation of “Moderate Buy” by the ten brokerages that are covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, eight have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $16.7143.

LRMR has been the topic of several research reports. Wedbush decreased their price target on shares of Larimar Therapeutics from $15.00 to $11.00 and set an “outperform” rating on the stock in a research note on Tuesday, September 30th. Robert W. Baird reduced their target price on shares of Larimar Therapeutics from $10.00 to $7.00 and set an “outperform” rating on the stock in a report on Tuesday, September 30th. Oppenheimer lowered their price target on shares of Larimar Therapeutics from $26.00 to $21.00 and set an “outperform” rating for the company in a research note on Thursday, October 2nd. Leerink Partners upgraded shares of Larimar Therapeutics to a “strong-buy” rating in a research report on Monday, January 5th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Larimar Therapeutics in a report on Thursday.

Hedge Funds Weigh In On Larimar Therapeutics

Large investors have recently bought and sold shares of the stock. BNP Paribas Financial Markets boosted its stake in shares of Larimar Therapeutics by 75.8% during the third quarter. BNP Paribas Financial Markets now owns 10,146 shares of the company’s stock valued at $33,000 after purchasing an additional 4,376 shares during the period. Savant Capital LLC bought a new stake in Larimar Therapeutics during the 2nd quarter valued at $39,000. B.O.S.S. Retirement Advisors LLC purchased a new stake in Larimar Therapeutics during the 3rd quarter valued at $41,000. Wealth Enhancement Advisory Services LLC bought a new stake in Larimar Therapeutics in the 2nd quarter worth $44,000. Finally, Coldstream Capital Management Inc. purchased a new position in shares of Larimar Therapeutics in the third quarter valued at about $57,000. 91.92% of the stock is owned by hedge funds and other institutional investors.

Larimar Therapeutics Stock Up 7.0%

Shares of LRMR stock opened at $3.69 on Friday. The business has a 50-day moving average price of $3.59 and a two-hundred day moving average price of $3.78. Larimar Therapeutics has a 12-month low of $1.61 and a 12-month high of $5.37. The firm has a market cap of $305.46 million, a P/E ratio of -1.91 and a beta of 1.06.

Larimar Therapeutics (NASDAQ:LRMR) last announced its quarterly earnings data on Wednesday, November 5th. The company reported ($0.61) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.22). As a group, research analysts expect that Larimar Therapeutics will post -1.15 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. Larimar Therapeutics, Inc is based in Bala Cynwyd, Pennsylvania.