Larimar Therapeutics, Inc. (NASDAQ:LRMR) Receives $20.13 Consensus Target Price from Brokerages

Larimar Therapeutics, Inc. (NASDAQ:LRMR) has been given an average recommendation of “Buy” by the eleven analysts that are covering the stock, MarketBeat.com 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 1 year target price among brokers that have updated their coverage on the stock in the last year is $20.13.

LRMR has been the topic of a number of research analyst reports. Truist Financial initiated coverage on shares of Larimar Therapeutics in a report on Wednesday, January 29th. They set a “buy” rating and a $18.00 price objective on the stock. HC Wainwright reissued a “buy” rating and set a $15.00 price objective on shares of Larimar Therapeutics in a report on Friday, January 24th. Finally, William Blair reissued an “outperform” rating on shares of Larimar Therapeutics in a report on Tuesday, November 19th.

Larimar Therapeutics Price Performance

Shares of LRMR opened at $2.79 on Wednesday. The firm has a market capitalization of $178.02 million, a PE ratio of -2.43 and a beta of 0.91. Larimar Therapeutics has a 1-year low of $2.52 and a 1-year high of $11.97. The company’s fifty day moving average price is $3.49 and its 200-day moving average price is $5.76.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LRMR. Janus Henderson Group PLC lifted its position in Larimar Therapeutics by 27.2% during the third quarter. Janus Henderson Group PLC now owns 5,566,855 shares of the company’s stock valued at $36,379,000 after purchasing an additional 1,189,467 shares during the period. Blue Owl Capital Holdings LP raised its position in shares of Larimar Therapeutics by 11.7% in the fourth quarter. Blue Owl Capital Holdings LP now owns 4,653,040 shares of the company’s stock worth $18,007,000 after acquiring an additional 486,211 shares during the period. Adage Capital Partners GP L.L.C. raised its position in shares of Larimar Therapeutics by 23.5% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 2,100,000 shares of the company’s stock worth $8,127,000 after acquiring an additional 399,123 shares during the period. Alyeska Investment Group L.P. raised its position in shares of Larimar Therapeutics by 38.6% in the fourth quarter. Alyeska Investment Group L.P. now owns 984,077 shares of the company’s stock worth $3,808,000 after acquiring an additional 273,920 shares during the period. Finally, Cubist Systematic Strategies LLC raised its position in shares of Larimar Therapeutics by 278.8% in the fourth quarter. Cubist Systematic Strategies LLC now owns 233,873 shares of the company’s stock worth $905,000 after acquiring an additional 172,131 shares during the period. 91.92% of the stock is currently owned by institutional investors and hedge funds.

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.