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

Larimar Therapeutics, Inc. (NASDAQ:LRMR) has received a consensus recommendation of “Buy” from the twelve ratings firms that are currently covering the firm, MarketBeat reports. Eleven research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $20.13.

LRMR has been the subject of several analyst reports. HC Wainwright reissued a “buy” rating and set a $15.00 price target on shares of Larimar Therapeutics in a report on Friday, January 24th. Truist Financial assumed coverage on Larimar Therapeutics in a report on Wednesday, January 29th. They issued a “buy” rating and a $18.00 price target for the company. Oppenheimer started coverage on Larimar Therapeutics in a research note on Wednesday, October 16th. They issued an “outperform” rating and a $26.00 price target on the stock. Finally, William Blair reiterated an “outperform” rating on shares of Larimar Therapeutics in a research report on Tuesday, November 19th.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of LRMR. China Universal Asset Management Co. Ltd. acquired a new stake in Larimar Therapeutics during the 4th quarter valued at $52,000. SG Americas Securities LLC boosted its stake in shares of Larimar Therapeutics by 35.1% during the fourth quarter. SG Americas Securities LLC now owns 19,391 shares of the company’s stock valued at $75,000 after acquiring an additional 5,042 shares during the last quarter. JPMorgan Chase & Co. increased its position in Larimar Therapeutics by 18.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 21,771 shares of the company’s stock worth $143,000 after purchasing an additional 3,425 shares in the last quarter. Franklin Resources Inc. raised its stake in Larimar Therapeutics by 21.9% in the 3rd quarter. Franklin Resources Inc. now owns 19,723 shares of the company’s stock valued at $143,000 after purchasing an additional 3,549 shares during the last quarter. Finally, Virtu Financial LLC purchased a new position in Larimar Therapeutics in the 3rd quarter valued at about $71,000. 91.92% of the stock is owned by hedge funds and other institutional investors.

Larimar Therapeutics Stock Performance

Shares of Larimar Therapeutics stock opened at $3.46 on Friday. Larimar Therapeutics has a one year low of $3.01 and a one year high of $13.68. The firm has a fifty day moving average of $4.33 and a two-hundred day moving average of $6.43.

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.