Larimar Therapeutics, Inc. (NASDAQ:LRMR) Stock Has Average Price Target of $10.33

Larimar Therapeutics, Inc. (NASDAQ:LRMR) has been assigned an average rating of “Buy” from the nine brokerages that are currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, six have given a buy rating and two have given a strong buy rating to the company. The average 12-month target price among analysts that have covered the stock in the last year is $10.33.

LRMR has been the topic of several analyst reports. Robert W. Baird lowered their price objective on Larimar Therapeutics from $7.00 to $5.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 30th. Citigroup reissued a “buy” rating on shares of Larimar Therapeutics in a report on Tuesday, June 30th. HC Wainwright began coverage on Larimar Therapeutics in a research report on Thursday, July 2nd. They set a “buy” rating and a $10.00 target price for the company. Leerink Partners initiated coverage on Larimar Therapeutics in a research note on Monday, September 14th. They issued an “outperform” rating and a $13.00 price target on the stock. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Larimar Therapeutics in a research note on Thursday, October 15th.

Hedge Funds Weigh In On Larimar Therapeutics

Large investors have recently modified their holdings of the stock. WINTON GROUP Ltd acquired a new position in shares of Larimar Therapeutics during the second quarter valued at $160,000. Engineers Gate Manager LP acquired a new stake in Larimar Therapeutics in the second quarter worth about $69,000. Integrated Wealth Concepts LLC acquired a new stake in Larimar Therapeutics in the second quarter worth about $27,000. Squarepoint Ops LLC acquired a new stake in Larimar Therapeutics in the second quarter worth about $346,000. Finally, Corient Private Wealth LP bought a new stake in Larimar Therapeutics during the 2nd quarter worth about $69,000. 91.92% of the stock is currently owned by institutional investors and hedge funds.

Larimar Therapeutics Stock Performance

NASDAQ LRMR opened at $2.27 on Tuesday. Larimar Therapeutics has a twelve month low of $1.91 and a twelve month high of $6.42. The stock has a market capitalization of $235.81 million, a PE ratio of -1.16 and a beta of 0.68. The stock has a 50-day simple moving average of $3.42 and a 200 day simple moving average of $3.73.

Larimar Therapeutics (NASDAQ:LRMR) last announced its earnings results on Tuesday, August 4th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.38) by $0.08. As a group, equities research analysts forecast that Larimar Therapeutics will post -1.37 EPS for the current fiscal year.

About Larimar Therapeutics

Larimar Therapeutics, Inc is a clinical-stage biotechnology company headquartered in Bala Cynwyd, Pennsylvania, focused on developing treatments for rare diseases.