Brokerages Set Larimar Therapeutics, Inc. (NASDAQ:LRMR) PT at $20.13

Larimar Therapeutics, Inc. (NASDAQ:LRMR) has earned an average recommendation of “Buy” from the twelve research firms that are currently covering the firm, Marketbeat reports. Eleven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $20.13.

LRMR has been the subject of several research reports. Truist Financial initiated coverage on Larimar Therapeutics in a report on Wednesday, January 29th. They set a “buy” rating and a $18.00 price target for the company. HC Wainwright reiterated a “buy” rating and set a $15.00 price target on shares of Larimar Therapeutics in a report on Friday, January 24th. Oppenheimer initiated coverage on Larimar Therapeutics in a report on Wednesday, October 16th. They issued an “outperform” rating and a $26.00 price target for the company. Finally, William Blair restated an “outperform” rating on shares of Larimar Therapeutics in a research note on Tuesday, November 19th.

Larimar Therapeutics Stock Up 4.1 %

LRMR stock opened at $3.82 on Friday. The company has a market cap of $243.75 million, a price-to-earnings ratio of -3.32 and a beta of 0.91. Larimar Therapeutics has a 12-month low of $3.01 and a 12-month high of $13.68. The company has a 50 day moving average of $4.44 and a two-hundred day moving average of $6.47.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. China Universal Asset Management Co. Ltd. bought a new stake in shares of Larimar Therapeutics during the fourth quarter worth approximately $52,000. SG Americas Securities LLC raised its position in shares of Larimar Therapeutics by 35.1% during the fourth quarter. SG Americas Securities LLC now owns 19,391 shares of the company’s stock worth $75,000 after purchasing an additional 5,042 shares during the period. JPMorgan Chase & Co. lifted its stake in Larimar Therapeutics by 18.7% in the third quarter. JPMorgan Chase & Co. now owns 21,771 shares of the company’s stock valued at $143,000 after buying an additional 3,425 shares in the last quarter. Franklin Resources Inc. increased its holdings in Larimar Therapeutics by 21.9% during the 3rd quarter. Franklin Resources Inc. now owns 19,723 shares of the company’s stock worth $143,000 after purchasing an additional 3,549 shares in the last quarter. Finally, Virtu Financial LLC acquired a new stake in Larimar Therapeutics in the 3rd quarter valued at approximately $71,000. 91.92% of the stock is currently owned by institutional investors.

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.