Analysts Set Larimar Therapeutics, Inc. (NASDAQ:LRMR) Target Price at $20.43

Larimar Therapeutics, Inc. (NASDAQ:LRMR) has received a consensus rating of “Buy” from the ten ratings firms that are currently covering the company, Marketbeat reports. Nine analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $20.43.

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

Larimar Therapeutics Stock Up 8.7 %

Shares of Larimar Therapeutics stock opened at $8.46 on Thursday. The firm has a market cap of $539.81 million, a P/E ratio of -7.55 and a beta of 0.98. Larimar Therapeutics has a fifty-two week low of $2.18 and a fifty-two week high of $13.68. The business has a 50-day moving average price of $7.33 and a 200 day moving average price of $7.80.

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

Institutional Inflows and Outflows

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

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.