Analysts Set Larimar Therapeutics, Inc. (NASDAQ:LRMR) Price Target at $20.00

Larimar Therapeutics, Inc. (NASDAQ:LRMR) has been given a consensus recommendation of “Buy” by the nine ratings firms that are covering the company, Marketbeat.com reports. Eight analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $19.50.

A number of equities analysts have recently commented on LRMR shares. Baird R W raised shares of Larimar Therapeutics to a “strong-buy” rating in a report on Wednesday, September 4th. HC Wainwright started coverage on Larimar Therapeutics in a report on Wednesday. They set a “buy” rating and a $15.00 price objective on the stock. Robert W. Baird began coverage on Larimar Therapeutics in a research note on Wednesday, September 4th. They issued an “outperform” rating and a $16.00 price objective on the stock. Finally, Wedbush assumed coverage on Larimar Therapeutics in a research report on Thursday. They set an “outperform” rating and a $22.00 target price for the company.

Larimar Therapeutics Trading Up 2.0 %

Shares of LRMR stock opened at $6.65 on Friday. Larimar Therapeutics has a 12 month low of $2.18 and a 12 month high of $13.68. The company has a market capitalization of $424.34 million, a P/E ratio of -6.86 and a beta of 0.98. The stock has a 50 day moving average of $7.46 and a two-hundred day moving average of $7.81.

Larimar Therapeutics (NASDAQ:LRMR) last issued its earnings results on Wednesday, August 7th. The company reported ($0.34) EPS for the quarter, missing the consensus estimate of ($0.32) by ($0.02). Sell-side analysts predict that Larimar Therapeutics will post -1.4 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of LRMR. Quarry LP increased its holdings in Larimar Therapeutics by 966.7% during the 2nd quarter. Quarry LP now owns 8,000 shares of the company’s stock valued at $58,000 after purchasing an additional 7,250 shares in the last quarter. Thoroughbred Financial Services LLC bought a new stake in shares of Larimar Therapeutics during the second quarter worth $94,000. SG Americas Securities LLC acquired a new stake in shares of Larimar Therapeutics in the third quarter valued at $94,000. EntryPoint Capital LLC acquired a new stake in shares of Larimar Therapeutics in the first quarter valued at $106,000. Finally, AQR Capital Management LLC bought a new position in shares of Larimar Therapeutics in the second quarter valued at about $113,000. 91.92% of the stock is 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.