Larimar Therapeutics, Inc. (NASDAQ:LRMR) Receives $20.13 Consensus Target Price from Analysts

Larimar Therapeutics, Inc. (NASDAQ:LRMR) has received a consensus recommendation of “Buy” from the twelve brokerages that are covering the company, MarketBeat Ratings reports. Eleven equities research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $20.13.

Several analysts have commented on the company. Truist Financial started 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 shares of Larimar Therapeutics in a research report on Wednesday, October 16th. They set an “outperform” rating and a $26.00 price target for the company. HC Wainwright reiterated a “buy” rating and issued a $15.00 price target on shares of Larimar Therapeutics in a report on Friday, January 24th. Finally, William Blair restated an “outperform” rating on shares of Larimar Therapeutics in a report on Tuesday, November 19th.

Institutional Trading of Larimar Therapeutics

Several large investors have recently added to or reduced their stakes in LRMR. Janus Henderson Group PLC lifted its stake in shares of Larimar Therapeutics by 27.2% during the third quarter. Janus Henderson Group PLC now owns 5,566,855 shares of the company’s stock worth $36,379,000 after purchasing an additional 1,189,467 shares in the last quarter. Millennium Management LLC lifted its position in Larimar Therapeutics by 30.2% during the 2nd quarter. Millennium Management LLC now owns 1,018,135 shares of the company’s stock worth $7,381,000 after acquiring an additional 235,865 shares in the last quarter. Sphera Funds Management LTD. boosted its holdings in Larimar Therapeutics by 32.6% in the 3rd quarter. Sphera Funds Management LTD. now owns 414,478 shares of the company’s stock worth $2,715,000 after acquiring an additional 102,009 shares during the period. Jane Street Group LLC grew its position in Larimar Therapeutics by 80.1% in the third quarter. Jane Street Group LLC now owns 113,783 shares of the company’s stock valued at $745,000 after acquiring an additional 50,622 shares in the last quarter. Finally, GSA Capital Partners LLP raised its stake in shares of Larimar Therapeutics by 108.9% during the third quarter. GSA Capital Partners LLP now owns 107,408 shares of the company’s stock valued at $704,000 after purchasing an additional 55,984 shares during the period. 91.92% of the stock is currently owned by institutional investors and hedge funds.

Larimar Therapeutics Stock Down 3.6 %

Shares of NASDAQ:LRMR opened at $3.46 on Friday. The business has a fifty day simple moving average of $4.33 and a 200-day simple moving average of $6.43. Larimar Therapeutics has a 52 week low of $3.01 and a 52 week high of $13.68.

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.