Larimar Therapeutics, Inc. (NASDAQ:LRMR) Receives $16.33 Average Target Price from Analysts

Shares of Larimar Therapeutics, Inc. (NASDAQ:LRMR) have been assigned an average recommendation of “Buy” from the eleven analysts that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, seven have given a buy rating and three have given a strong buy rating to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $15.2857.

A number of equities analysts have recently issued reports on LRMR shares. Lifesci Capital raised Larimar Therapeutics to a “strong-buy” rating in a research report on Tuesday, February 24th. Wedbush reduced their price target on Larimar Therapeutics from $13.00 to $12.00 and set an “outperform” rating on the stock in a research report on Monday, May 18th. Wall Street Zen raised Larimar Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 16th. Truist Financial raised Larimar Therapeutics to a “strong-buy” rating in a research report on Wednesday, March 25th. Finally, Citigroup upped their price target on Larimar Therapeutics from $12.00 to $14.00 and gave the stock a “buy” rating in a research report on Wednesday, February 25th.

Hedge Funds Weigh In On Larimar Therapeutics

Hedge funds have recently made changes to their positions in the company. AIGH Capital Management LLC increased its position in shares of Larimar Therapeutics by 100.0% in the 4th quarter. AIGH Capital Management LLC now owns 2,000,000 shares of the company’s stock valued at $7,620,000 after acquiring an additional 1,000,000 shares during the period. Blue Owl Capital Holdings LP increased its position in shares of Larimar Therapeutics by 18.8% in the 3rd quarter. Blue Owl Capital Holdings LP now owns 5,853,040 shares of the company’s stock valued at $18,905,000 after acquiring an additional 925,000 shares during the period. Cantor Fitzgerald L. P. acquired a new position in shares of Larimar Therapeutics in the 3rd quarter valued at $412,000. Inceptionr LLC acquired a new position in shares of Larimar Therapeutics in the 1st quarter valued at $198,000. Finally, Strs Ohio increased its position in shares of Larimar Therapeutics by 174.7% in the 1st quarter. Strs Ohio now owns 21,700 shares of the company’s stock valued at $98,000 after acquiring an additional 13,800 shares during the period. 91.92% of the stock is owned by institutional investors and hedge funds.

Larimar Therapeutics Trading Down 0.9%

Shares of LRMR stock opened at $3.49 on Friday. The business’s fifty day simple moving average is $4.32 and its 200-day simple moving average is $3.97. The company has a market cap of $362.54 million, a PE ratio of -1.69 and a beta of 0.91. Larimar Therapeutics has a 12-month low of $1.96 and a 12-month high of $6.42.

Larimar Therapeutics (NASDAQ:LRMR) last issued its quarterly earnings results on Thursday, May 14th. The company reported ($0.31) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.53) by $0.22. On average, equities analysts forecast that Larimar Therapeutics will post -1.64 earnings per share for the current 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.