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

Larimar Therapeutics, Inc. (NASDAQ:LRMR) has earned a consensus recommendation of “Buy” from the ten analysts that are presently covering the firm, Marketbeat reports. Nine investment analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $20.43.

A number of research firms have issued reports on LRMR. Oppenheimer began coverage on Larimar Therapeutics in a report on Wednesday, October 16th. They issued an “outperform” rating and a $26.00 target price on the stock. Baird R W raised Larimar Therapeutics to a “strong-buy” rating in a report on Wednesday, September 4th. Wedbush started coverage on Larimar Therapeutics in a report on Thursday, October 3rd. They set an “outperform” rating and a $22.00 price objective on the stock. Robert W. Baird started coverage on Larimar Therapeutics in a report on Wednesday, September 4th. They set an “outperform” rating and a $16.00 price objective on the stock. Finally, HC Wainwright started coverage on Larimar Therapeutics in a report on Wednesday, October 2nd. They set a “buy” rating and a $15.00 price objective on the stock.

Institutional Trading of Larimar Therapeutics

Institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in Larimar Therapeutics by 62.7% in the 1st quarter. Vanguard Group Inc. now owns 2,367,701 shares of the company’s stock valued at $17,971,000 after buying an additional 912,458 shares in the last quarter. Janus Henderson Group PLC boosted its stake in Larimar Therapeutics by 52.2% in the 1st quarter. Janus Henderson Group PLC now owns 4,020,965 shares of the company’s stock valued at $30,459,000 after buying an additional 1,379,900 shares in the last quarter. Driehaus Capital Management LLC boosted its stake in Larimar Therapeutics by 20.8% in the 2nd 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. Point72 Asset Management L.P. raised its position in Larimar Therapeutics by 37.7% in the 2nd quarter. Point72 Asset Management L.P. now owns 603,581 shares of the company’s stock valued at $4,376,000 after purchasing an additional 165,181 shares during the last quarter. Finally, Millennium Management LLC raised its position in Larimar Therapeutics by 30.2% in the 2nd quarter. Millennium Management LLC now owns 1,018,135 shares of the company’s stock valued at $7,381,000 after purchasing an additional 235,865 shares during the last quarter. Institutional investors and hedge funds own 91.92% of the company’s stock.

Larimar Therapeutics Stock Down 2.4 %

LRMR opened at $7.35 on Thursday. The firm has a market capitalization of $468.94 million, a P/E ratio of -7.58 and a beta of 0.98. The stock’s 50 day moving average price is $7.31 and its two-hundred day moving average price is $7.77. Larimar Therapeutics has a 12-month low of $2.18 and a 12-month high of $13.68.

Larimar Therapeutics (NASDAQ:LRMR) last released its earnings results on Wednesday, August 7th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.02). As a group, analysts anticipate that Larimar Therapeutics will post -1.38 earnings per share for the current year.

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.