Larimar Therapeutics, Inc. (NASDAQ:LRMR) Receives $16.50 Consensus Price Target from Analysts

Larimar Therapeutics, Inc. (NASDAQ:LRMR) has been given an average recommendation of “Moderate Buy” by the nine ratings firms that are currently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, seven have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $16.50.

LRMR has been the subject of several research reports. Leerink Partners raised shares of Larimar Therapeutics to a “strong-buy” rating in a research note on Monday, January 5th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Larimar Therapeutics in a research note on Thursday, January 22nd.

Institutional Trading of Larimar Therapeutics

A number of hedge funds have recently made changes to their positions in the company. Deerfield Management Company L.P. raised its holdings in Larimar Therapeutics by 44.2% in the 3rd 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 during the last quarter. Blue Owl Capital Holdings LP grew its holdings in Larimar Therapeutics by 16.6% during the 4th quarter. Blue Owl Capital Holdings LP now owns 6,823,690 shares of the company’s stock worth $25,998,000 after acquiring an additional 970,650 shares during the last quarter. Opaleye Management Inc. increased its position in Larimar Therapeutics by 114.7% in the 2nd quarter. Opaleye Management Inc. now owns 4,110,000 shares of the company’s stock valued at $11,878,000 after acquiring an additional 2,195,923 shares during the period. Vanguard Group Inc. raised its stake in shares of Larimar Therapeutics by 44.2% during the third quarter. Vanguard Group Inc. now owns 3,087,840 shares of the company’s stock valued at $9,974,000 after acquiring an additional 945,809 shares during the last quarter. Finally, AIGH Capital Management LLC raised its stake in shares of Larimar Therapeutics by 100.0% during the fourth quarter. AIGH Capital Management LLC now owns 2,000,000 shares of the company’s stock valued at $7,620,000 after acquiring an additional 1,000,000 shares during the last quarter. 91.92% of the stock is owned by institutional investors and hedge funds.

Larimar Therapeutics Trading Down 1.9%

LRMR opened at $3.15 on Wednesday. The company’s 50 day moving average is $3.55 and its 200-day moving average is $3.78. Larimar Therapeutics has a 1-year low of $1.61 and a 1-year high of $5.37. The company has a market cap of $260.76 million, a P/E ratio of -1.63 and a beta of 1.00.

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