Larimar Therapeutics, Inc. (NASDAQ:LRMR) Given Consensus Rating of “Moderate Buy” by Analysts

Larimar Therapeutics, Inc. (NASDAQ:LRMR) has been assigned an average recommendation of “Moderate Buy” from the nine research firms that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $16.7143.

LRMR has been the subject of several research reports. Wedbush reduced their price objective on Larimar Therapeutics from $15.00 to $11.00 and set an “outperform” rating for the company in a research report on Tuesday, September 30th. Robert W. Baird lowered their target price on shares of Larimar Therapeutics from $10.00 to $7.00 and set an “outperform” rating for the company in a report on Tuesday, September 30th. Oppenheimer reduced their target price on shares of Larimar Therapeutics from $26.00 to $21.00 and set an “outperform” rating for the company in a research note on Thursday, October 2nd. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Larimar Therapeutics in a report on Wednesday, October 8th.

Larimar Therapeutics Stock Up 9.6%

Shares of NASDAQ LRMR opened at $4.00 on Tuesday. The stock has a market cap of $331.12 million, a P/E ratio of -2.07 and a beta of 1.05. The firm’s 50-day simple moving average is $3.76 and its 200 day simple moving average is $3.69. Larimar Therapeutics has a fifty-two week low of $1.61 and a fifty-two week high of $5.37.

Larimar Therapeutics (NASDAQ:LRMR) last announced its quarterly earnings data on Wednesday, November 5th. The company reported ($0.61) EPS for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.22). On average, sell-side analysts anticipate that Larimar Therapeutics will post -1.15 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Larimar Therapeutics

A number of hedge funds have recently made changes to their positions in the stock. BNP Paribas Financial Markets grew its holdings in Larimar Therapeutics by 75.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 10,146 shares of the company’s stock worth $33,000 after acquiring an additional 4,376 shares during the last quarter. Walleye Capital LLC purchased a new position in shares of Larimar Therapeutics in the 1st quarter worth about $37,000. Savant Capital LLC bought a new position in Larimar Therapeutics during the second quarter valued at $39,000. B.O.S.S. Retirement Advisors LLC purchased a new position in shares of Larimar Therapeutics in the third quarter worth about $41,000. Finally, Wealth Enhancement Advisory Services LLC bought a new position in shares of Larimar Therapeutics in the second quarter valued at approximately $44,000. 91.92% of the stock is currently owned by institutional investors and hedge funds.

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. Larimar Therapeutics, Inc is based in Bala Cynwyd, Pennsylvania.