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

Larimar Therapeutics, Inc. (NASDAQ:LRMR) has received a consensus rating of “Buy” from the eleven ratings firms that are currently covering the company, MarketBeat Ratings reports. Ten research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $20.43.

LRMR has been the topic of several research analyst reports. Wedbush began coverage on shares of Larimar Therapeutics in a research note on Thursday, October 3rd. They set an “outperform” rating and a $22.00 price target on the stock. William Blair reissued an “outperform” rating on shares of Larimar Therapeutics in a report on Tuesday, November 19th. HC Wainwright restated a “buy” rating and set a $15.00 price target on shares of Larimar Therapeutics in a research note on Monday, December 16th. Finally, Oppenheimer started coverage on Larimar Therapeutics in a research report on Wednesday, October 16th. They set an “outperform” rating and a $26.00 price target on the stock.

Larimar Therapeutics Stock Performance

Shares of NASDAQ LRMR opened at $3.48 on Tuesday. The stock’s 50-day simple moving average is $5.67 and its 200-day simple moving average is $7.08. The firm has a market capitalization of $222.05 million, a PE ratio of -3.03 and a beta of 0.91. Larimar Therapeutics has a fifty-two week low of $3.01 and a fifty-two week high of $13.68.

Larimar Therapeutics (NASDAQ:LRMR) last released its quarterly earnings data on Wednesday, October 30th. The company reported ($0.24) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.13. During the same quarter last year, the firm posted ($0.21) EPS. On average, sell-side analysts forecast that Larimar Therapeutics will post -1.16 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Janus Henderson Group PLC lifted its holdings in shares of Larimar Therapeutics by 27.2% during the third quarter. Janus Henderson Group PLC now owns 5,566,855 shares of the company’s stock worth $36,379,000 after purchasing an additional 1,189,467 shares during the period. Millennium Management LLC boosted its holdings 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 valued at $7,381,000 after acquiring an additional 235,865 shares in the last quarter. Driehaus Capital Management LLC increased its stake in shares of Larimar Therapeutics by 20.8% during the second quarter. Driehaus Capital Management LLC now owns 1,314,106 shares of the company’s stock worth $9,527,000 after acquiring an additional 225,879 shares during the period. Point72 Asset Management L.P. raised its holdings in Larimar Therapeutics by 37.7% during the second quarter. Point72 Asset Management L.P. now owns 603,581 shares of the company’s stock worth $4,376,000 after purchasing an additional 165,181 shares in the last quarter. Finally, Sphera Funds Management LTD. lifted its position in Larimar Therapeutics by 32.6% in the third quarter. Sphera Funds Management LTD. now owns 414,478 shares of the company’s stock valued at $2,715,000 after purchasing an additional 102,009 shares during the period. 91.92% of the stock is currently owned by hedge funds and other institutional investors.

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.