Analysts Set Larimar Therapeutics, Inc. (NASDAQ:LRMR) PT at $19.63

Larimar Therapeutics, Inc. (NASDAQ:LRMR - Get Free Report) has received a consensus rating of "Buy" from the ten research firms that are covering the stock, Marketbeat.com reports. Nine investment analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $19.63.

Several research firms recently commented on LRMR. Citigroup reaffirmed a "buy" rating on shares of Larimar Therapeutics in a research report on Tuesday, March 25th. HC Wainwright increased 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 began coverage on Larimar Therapeutics in a research report on Wednesday, January 29th. They set a "buy" rating and a $18.00 price objective on the stock. Robert W. Baird dropped their price objective on Larimar Therapeutics from $13.00 to $10.00 and set an "outperform" rating on the stock in a research report on Tuesday, March 25th. Finally, Guggenheim reaffirmed a "buy" rating and set a $26.00 price objective on shares of Larimar Therapeutics in a research report on Tuesday, March 25th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Janus Henderson Group PLC lifted its position in shares of Larimar Therapeutics by 15.7% during the 4th quarter. Janus Henderson Group PLC now owns 6,443,286 shares of the company's stock valued at $24,936,000 after buying an additional 876,431 shares in the last quarter. Blue Owl Capital Holdings LP lifted its position in shares of 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 valued at $18,007,000 after buying an additional 486,211 shares in the last quarter. Alyeska Investment Group L.P. lifted its position in shares of Larimar Therapeutics by 46.6% during the 1st quarter. Alyeska Investment Group L.P. now owns 1,442,473 shares of the company's stock valued at $3,101,000 after buying an additional 458,396 shares in the last quarter. Adage Capital Partners GP L.L.C. lifted its position in shares of Larimar Therapeutics by 23.5% during the 4th 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 buying an additional 399,123 shares in the last quarter. Finally, Nuveen LLC purchased a new position in shares of Larimar Therapeutics during the 1st quarter valued at about $376,000. 91.92% of the stock is owned by hedge funds and other institutional investors.

Larimar Therapeutics Stock Up 7.2%

Shares of NASDAQ:LRMR traded up $0.14 on Monday, hitting $2.01. 400,315 shares of the company traded hands, compared to its average volume of 768,158. Larimar Therapeutics has a 52 week low of $1.61 and a 52 week high of $11.20. The stock has a 50 day simple moving average of $2.21 and a 200-day simple moving average of $3.90. The company has a market cap of $128.38 million, a PE ratio of -1.73 and a beta of 0.93.

Larimar Therapeutics (NASDAQ:LRMR - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The company reported ($0.46) earnings per share for the quarter, missing the consensus estimate of ($0.42) by ($0.04). As a group, sell-side analysts anticipate that Larimar Therapeutics will post -1.15 earnings per share for the current 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.