Larimar Therapeutics, Inc. (NASDAQ:LRMR) Receives Consensus Recommendation of “Buy” from Analysts

Shares of Larimar Therapeutics, Inc. (NASDAQ:LRMR) have received a consensus rating of “Buy” from the five research firms that are currently covering the firm, Marketbeat reports. Five equities research analysts have rated the stock with a buy recommendation. The average 12 month price target among brokers that have issued a report on the stock in the last year is $21.33.

A number of equities research analysts recently issued reports on the stock. Citigroup increased their target price on shares of Larimar Therapeutics from $10.00 to $14.00 and gave the stock a “buy” rating in a research report on Wednesday, May 22nd. Robert W. Baird began coverage on shares of Larimar Therapeutics in a research report on Wednesday. They issued an “outperform” rating and a $16.00 price objective for the company. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $25.00 target price on shares of Larimar Therapeutics in a research note on Friday, May 31st.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. Point72 Asset Management L.P. lifted its stake in Larimar Therapeutics by 37.7% in the second quarter. Point72 Asset Management L.P. now owns 603,581 shares of the company’s stock valued at $4,376,000 after buying an additional 165,181 shares in the last quarter. Quarry LP lifted its stake in Larimar Therapeutics by 966.7% in the second quarter. Quarry LP now owns 8,000 shares of the company’s stock valued at $58,000 after buying an additional 7,250 shares in the last quarter. Driehaus Capital Management LLC lifted its stake in Larimar Therapeutics by 20.8% in the second quarter. Driehaus Capital Management LLC now owns 1,314,106 shares of the company’s stock valued at $9,527,000 after buying an additional 225,879 shares in the last quarter. The Manufacturers Life Insurance Company bought a new position in Larimar Therapeutics in the second quarter valued at approximately $120,000. Finally, Millennium Management LLC lifted its stake in 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 buying an additional 235,865 shares in the last quarter. Institutional investors own 91.92% of the company’s stock.

Larimar Therapeutics Trading Up 1.9 %

NASDAQ LRMR opened at $7.05 on Wednesday. The company has a fifty day simple moving average of $8.32 and a 200 day simple moving average of $8.38. The company has a market cap of $449.86 million, a P/E ratio of -7.34 and a beta of 0.99. Larimar Therapeutics has a 1 year low of $2.18 and a 1 year high of $13.68.

Larimar Therapeutics (NASDAQ:LRMR) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.34) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.02). Equities research analysts forecast that Larimar Therapeutics will post -1.4 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.