Larimar Therapeutics, Inc. (NASDAQ:LRMR) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Larimar Therapeutics, Inc. (NASDAQ:LRMR) have been given a consensus rating of “Moderate Buy” by the ten ratings firms that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $16.7143.

A number of equities research analysts have weighed in on LRMR shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Larimar Therapeutics in a report on Wednesday, October 8th. Oppenheimer decreased their price target on Larimar Therapeutics from $26.00 to $21.00 and set an “outperform” rating on the stock in a research note on Thursday, October 2nd. Leerink Partnrs raised Larimar Therapeutics to a “strong-buy” rating in a report on Monday, January 5th. Wedbush reduced their target price on Larimar Therapeutics from $15.00 to $11.00 and set an “outperform” rating for the company in a report on Tuesday, September 30th. Finally, Robert W. Baird decreased their target price on shares of Larimar Therapeutics from $10.00 to $7.00 and set an “outperform” rating on the stock in a research report on Tuesday, September 30th.

Larimar Therapeutics Stock Performance

Shares of Larimar Therapeutics stock opened at $3.13 on Friday. Larimar Therapeutics has a one year low of $1.61 and a one year high of $5.37. The company has a market cap of $259.10 million, a P/E ratio of -1.62 and a beta of 1.06. The firm has a fifty day moving average of $3.60 and a two-hundred day moving average of $3.77.

Larimar Therapeutics (NASDAQ:LRMR) last issued its earnings results on Wednesday, November 5th. The company reported ($0.61) earnings per share for the quarter, missing the consensus estimate of ($0.39) by ($0.22). As a group, equities analysts predict that Larimar Therapeutics will post -1.15 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Deerfield Management Company L.P. increased its holdings in Larimar Therapeutics by 44.2% in the third quarter. Deerfield Management Company L.P. now owns 30,606,974 shares of the company’s stock valued at $98,861,000 after buying an additional 9,375,000 shares in the last quarter. Opaleye Management Inc. grew its holdings in shares of Larimar Therapeutics by 114.7% in the 2nd quarter. Opaleye Management Inc. now owns 4,110,000 shares of the company’s stock worth $11,878,000 after acquiring an additional 2,195,923 shares during the period. Woodline Partners LP increased its stake in Larimar Therapeutics by 160.6% in the 3rd quarter. Woodline Partners LP now owns 1,622,850 shares of the company’s stock valued at $5,242,000 after purchasing an additional 1,000,168 shares in the last quarter. AIGH Capital Management LLC purchased a new position in Larimar Therapeutics in the 3rd quarter valued at approximately $3,230,000. Finally, Vanguard Group Inc. raised its holdings in Larimar Therapeutics by 44.2% during the third quarter. Vanguard Group Inc. now owns 3,087,840 shares of the company’s stock worth $9,974,000 after purchasing an additional 945,809 shares during the last quarter. 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.