Analysts Set Larimar Therapeutics, Inc. (NASDAQ:LRMR) PT at $18.50

Shares of Larimar Therapeutics, Inc. (NASDAQ:LRMR - Get Free Report) have received a consensus recommendation of "Buy" from the nine ratings firms that are presently covering the company, Marketbeat reports. Eight 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 analysts that have covered the stock in the last year is $18.50.

Several equities analysts recently commented on LRMR shares. Wedbush cut their price target on shares of Larimar Therapeutics from $17.00 to $15.00 and set an "outperform" rating on the stock in a report on Tuesday, June 24th. Robert W. Baird cut their target price on Larimar Therapeutics from $13.00 to $10.00 and set an "outperform" rating on the stock in a research note on Tuesday, March 25th. HC Wainwright raised their price target on Larimar Therapeutics from $15.00 to $16.00 and gave the stock a "buy" rating in a research note on Tuesday, March 25th. Citigroup restated a "buy" rating on shares of Larimar Therapeutics in a report on Tuesday, June 24th. Finally, Guggenheim reiterated a "buy" rating and issued a $26.00 target price on shares of Larimar Therapeutics in a research note on Tuesday, June 24th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. ProShare Advisors LLC purchased a new stake in shares of Larimar Therapeutics in the 4th quarter worth $58,000. Janus Henderson Group PLC raised its holdings in shares of Larimar Therapeutics by 15.7% in the fourth quarter. Janus Henderson Group PLC now owns 6,443,286 shares of the company's stock valued at $24,936,000 after acquiring an additional 876,431 shares in the last quarter. Adage Capital Partners GP L.L.C. raised its holdings in shares of Larimar Therapeutics by 23.5% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 2,100,000 shares of the company's stock valued at $8,127,000 after acquiring an additional 399,123 shares in the last quarter. Alyeska Investment Group L.P. lifted its stake in Larimar Therapeutics by 38.6% in the fourth quarter. Alyeska Investment Group L.P. now owns 984,077 shares of the company's stock worth $3,808,000 after acquiring an additional 273,920 shares during the period. Finally, Blue Owl Capital Holdings LP grew its holdings in Larimar Therapeutics by 11.7% during the 4th quarter. Blue Owl Capital Holdings LP now owns 4,653,040 shares of the company's stock worth $18,007,000 after acquiring an additional 486,211 shares in the last quarter. Institutional investors own 91.92% of the company's stock.

Larimar Therapeutics Trading Up 1.0%

NASDAQ:LRMR traded up $0.03 during midday trading on Tuesday, hitting $3.14. 516,014 shares of the company traded hands, compared to its average volume of 840,034. The firm has a market capitalization of $201.05 million, a P/E ratio of -2.11 and a beta of 0.86. The firm's fifty day moving average is $2.47 and its 200-day moving average is $2.83. Larimar Therapeutics has a 12-month low of $1.61 and a 12-month high of $11.20.

Larimar Therapeutics (NASDAQ:LRMR - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The company reported ($0.46) earnings per share for the quarter, missing analysts' consensus estimates of ($0.42) by ($0.04). On average, research analysts expect that Larimar Therapeutics will post -1.15 EPS for the current fiscal 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.