Analysts Set Larimar Therapeutics, Inc. (NASDAQ:LRMR) Price Target at $16.71

Larimar Therapeutics, Inc. (NASDAQ:LRMR) has earned an average recommendation of “Moderate Buy” from the ten research firms that are currently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating and nine have given a buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $16.7143.

LRMR has been the topic of a number of analyst reports. Oppenheimer dropped their price objective on shares of Larimar Therapeutics from $26.00 to $21.00 and set an “outperform” rating on the stock in a research note on Thursday, October 2nd. JMP Securities decreased their price target on shares of Larimar Therapeutics from $22.00 to $18.00 and set a “market outperform” rating for the company in a research report on Friday, August 15th. Weiss Ratings reissued a “sell (d-)” rating on shares of Larimar Therapeutics in a research report on Wednesday, October 8th. Robert W. Baird decreased their price target on shares of Larimar Therapeutics from $10.00 to $7.00 and set an “outperform” rating for the company in a research report on Tuesday, September 30th. Finally, Wedbush decreased their price target on shares of Larimar Therapeutics from $15.00 to $11.00 and set an “outperform” rating for the company in a research report on Tuesday, September 30th.

Institutional Trading of Larimar Therapeutics

Hedge funds have recently made changes to their positions in the stock. B.O.S.S. Retirement Advisors LLC acquired a new position in shares of Larimar Therapeutics during the third quarter valued at $41,000. Savant Capital LLC acquired a new position in shares of Larimar Therapeutics during the second quarter valued at $39,000. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Larimar Therapeutics during the second quarter valued at $44,000. Walleye Capital LLC acquired a new position in shares of Larimar Therapeutics during the first quarter valued at $37,000. Finally, Next Level Private LLC acquired a new position in shares of Larimar Therapeutics during the second quarter valued at $58,000. Institutional investors and hedge funds own 91.92% of the company’s stock.

Larimar Therapeutics Stock Down 15.3%

LRMR opened at $3.22 on Monday. The firm has a market capitalization of $266.55 million, a P/E ratio of -2.06 and a beta of 1.10. The firm’s 50 day moving average is $4.15 and its 200-day moving average is $3.36. Larimar Therapeutics has a 52-week low of $1.61 and a 52-week high of $9.50.

Larimar Therapeutics (NASDAQ:LRMR) last posted its quarterly earnings data on Wednesday, November 5th. The company reported ($0.61) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.22). Equities analysts expect that Larimar Therapeutics will post -1.15 earnings per share 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.