Larimar Therapeutics, Inc. (NASDAQ:LRMR) Stock Rated “Buy” by Sell-Side Analysts

Larimar Therapeutics, Inc. (NASDAQ:LRMR) has received an average recommendation of “Buy” from the nine analysts that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, six have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $10.33.

Several research analysts have recently weighed in on 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 for the company. HC Wainwright started coverage on Larimar Therapeutics in a research report on Thursday, July 2nd. They set a “buy” rating and a $10.00 price objective on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Larimar Therapeutics in a report on Thursday, October 15th. Wedbush decreased their target price on Larimar Therapeutics from $12.00 to $11.00 and set an “outperform” rating for the company in a research report on Wednesday, August 5th. Finally, Robert W. Baird lowered their target price on shares of Larimar Therapeutics from $7.00 to $5.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 30th.

Larimar Therapeutics Stock Performance

Shares of NASDAQ LRMR opened at $2.24 on Tuesday. The firm’s 50 day moving average price is $3.35 and its 200-day moving average price is $3.82. Larimar Therapeutics has a 52-week low of $1.91 and a 52-week high of $6.42. The company has a market cap of $232.69 million, a PE ratio of -1.15 and a beta of 0.68.

Larimar Therapeutics (NASDAQ:LRMR) last announced its quarterly earnings results on Tuesday, August 4th. The company reported ($0.30) earnings per share for the quarter, beating the consensus estimate of ($0.38) by $0.08. On average, analysts forecast that Larimar Therapeutics will post -1.37 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Larimar Therapeutics

Hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new position in shares of Larimar Therapeutics during the 2nd quarter valued at $17,318,000. AIGH Capital Management LLC lifted its holdings in Larimar Therapeutics by 50.0% in the first quarter. AIGH Capital Management LLC now owns 3,000,000 shares of the company’s stock valued at $13,500,000 after acquiring an additional 1,000,000 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Larimar Therapeutics by 143.8% in the first quarter. Dimensional Fund Advisors LP now owns 798,462 shares of the company’s stock valued at $3,592,000 after acquiring an additional 470,968 shares during the period. Renaissance Technologies LLC boosted its position in Larimar Therapeutics by 148.9% in the first quarter. Renaissance Technologies LLC now owns 739,942 shares of the company’s stock worth $3,330,000 after purchasing an additional 442,676 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. purchased a new position in Larimar Therapeutics in the second quarter worth about $1,210,000. 91.92% of the stock is currently owned by hedge funds and other institutional investors.

Larimar Therapeutics Company Profile

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