Larimar Therapeutics, Inc. (NASDAQ:LRMR) Receives $19.67 Consensus Target Price from Brokerages

Larimar Therapeutics, Inc. (NASDAQ:LRMR - Get Free Report) has been given an average rating of "Buy" by the nine analysts 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 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $19.67.

LRMR has been the topic of several research reports. Robert W. Baird decreased their price target on shares of Larimar Therapeutics from $13.00 to $10.00 and set an "outperform" rating on the stock in a report on Tuesday, March 25th. Citigroup reaffirmed a "buy" rating on shares of Larimar Therapeutics in a report on Tuesday, March 25th. HC Wainwright lifted their price target on shares of Larimar Therapeutics from $15.00 to $16.00 and gave the company a "buy" rating in a report on Tuesday, March 25th. Finally, Guggenheim reaffirmed a "buy" rating and set a $26.00 price target on shares of Larimar Therapeutics in a report on Tuesday, March 25th.

Larimar Therapeutics Stock Down 0.7%

Shares of NASDAQ:LRMR traded down $0.02 during midday trading on Friday, hitting $2.66. The stock had a trading volume of 831,197 shares, compared to its average volume of 786,228. The company's 50-day moving average price is $2.13 and its 200-day moving average price is $3.20. The company has a market capitalization of $170.31 million, a P/E ratio of -2.31 and a beta of 0.79. Larimar Therapeutics has a fifty-two week low of $1.61 and a fifty-two week high of $11.20.

Larimar Therapeutics (NASDAQ:LRMR - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The company reported ($0.46) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.42) by ($0.04). Research analysts expect that Larimar Therapeutics will post -1.15 EPS for the current fiscal year.

Institutional Investors Weigh In On Larimar Therapeutics

Institutional investors have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets bought a new stake in Larimar Therapeutics during the 4th quarter worth approximately $25,000. Walleye Capital LLC acquired a new position in shares of Larimar Therapeutics in the 1st quarter worth approximately $37,000. Algert Global LLC acquired a new position in shares of Larimar Therapeutics in the 4th quarter worth approximately $47,000. Graham Capital Management L.P. acquired a new position in shares of Larimar Therapeutics in the 4th quarter worth approximately $54,000. Finally, ProShare Advisors LLC acquired a new position in shares of Larimar Therapeutics in the 4th quarter worth approximately $58,000. 91.92% of the stock is owned by institutional investors.

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.