Brokerages Set Larimar Therapeutics, Inc. (NASDAQ:LRMR) PT at $20.13

Shares of Larimar Therapeutics, Inc. (NASDAQ:LRMR) have been given an average recommendation of “Buy” by the twelve brokerages that are presently covering the firm, Marketbeat Ratings reports. Eleven research 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 $20.22.

Several equities research analysts have recently issued reports on LRMR shares. Guggenheim reissued a “buy” rating and issued a $26.00 price objective on shares of Larimar Therapeutics in a research report on Tuesday, March 25th. HC Wainwright raised their price objective on Larimar Therapeutics from $15.00 to $16.00 and gave the company a “buy” rating in a research report on Tuesday, March 25th. Truist Financial assumed coverage on Larimar Therapeutics in a research note on Wednesday, January 29th. They set a “buy” rating and a $18.00 price objective on the stock. Finally, Robert W. Baird lowered their target price on Larimar Therapeutics from $13.00 to $10.00 and set an “outperform” rating for the company in a research note on Tuesday, March 25th.

Larimar Therapeutics Trading Down 2.1 %

Shares of Larimar Therapeutics stock opened at $2.35 on Friday. The business’s fifty day moving average price is $3.08 and its 200 day moving average price is $5.10. Larimar Therapeutics has a twelve month low of $2.19 and a twelve month high of $11.20. The stock has a market capitalization of $149.95 million, a P/E ratio of -2.04 and a beta of 0.99.

Larimar Therapeutics (NASDAQ:LRMR) last issued its earnings results on Monday, March 24th. The company reported ($0.45) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.16). As a group, sell-side analysts predict that Larimar Therapeutics will post -1.15 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in LRMR. Fi3 FINANCIAL ADVISORS LLC lifted its position in shares of Larimar Therapeutics by 16.7% during the fourth quarter. Fi3 FINANCIAL ADVISORS LLC now owns 23,798 shares of the company’s stock worth $92,000 after purchasing an additional 3,411 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Larimar Therapeutics by 18.7% during the third quarter. JPMorgan Chase & Co. now owns 21,771 shares of the company’s stock valued at $143,000 after buying an additional 3,425 shares in the last quarter. Franklin Resources Inc. lifted its holdings in Larimar Therapeutics by 21.9% during the 3rd quarter. Franklin Resources Inc. now owns 19,723 shares of the company’s stock worth $143,000 after buying an additional 3,549 shares during the last quarter. Envestnet Asset Management Inc. grew its position in shares of Larimar Therapeutics by 12.3% in the 4th quarter. Envestnet Asset Management Inc. now owns 35,525 shares of the company’s stock worth $137,000 after acquiring an additional 3,877 shares in the last quarter. Finally, Bank of America Corp DE increased its holdings in shares of Larimar Therapeutics by 8.1% in the 4th quarter. Bank of America Corp DE now owns 53,190 shares of the company’s stock valued at $206,000 after acquiring an additional 3,980 shares during the last quarter. 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.