Brokerages Set Larimar Therapeutics, Inc. (NASDAQ:LRMR) Price Target at $18.50

Larimar Therapeutics, Inc. (NASDAQ:LRMR) has earned a consensus recommendation of “Buy” from the six research firms that are currently covering the company, MarketBeat reports. Six analysts have rated the stock with a buy rating. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $18.50.

Several research firms recently issued reports on LRMR. Citigroup increased their target price on shares of Larimar Therapeutics from $4.50 to $10.00 and gave the stock a “buy” rating in a report on Tuesday, February 13th. SVB Leerink initiated coverage on shares of Larimar Therapeutics in a research report on Wednesday, April 3rd. They set an “outperform” rating and a $25.00 price objective on the stock. Leerink Partnrs reaffirmed an “outperform” rating on shares of Larimar Therapeutics in a report on Wednesday, April 3rd. Lifesci Capital reiterated an “outperform” rating on shares of Larimar Therapeutics in a research note on Tuesday, February 20th. Finally, JMP Securities restated a “market outperform” rating and issued a $25.00 price objective on shares of Larimar Therapeutics in a research report on Friday, March 15th.

Insider Buying and Selling at Larimar Therapeutics

In other news, Director James E. Flynn bought 4,290,617 shares of Larimar Therapeutics stock in a transaction dated Friday, February 16th. The shares were purchased at an average cost of $8.74 per share, with a total value of $37,499,992.58. Following the completion of the acquisition, the director now owns 6,151,406 shares of the company’s stock, valued at approximately $53,763,288.44. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 4.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of LRMR. SG Americas Securities LLC lifted its position in Larimar Therapeutics by 27.3% during the fourth quarter. SG Americas Securities LLC now owns 14,159 shares of the company’s stock valued at $64,000 after purchasing an additional 3,039 shares during the last quarter. Pale Fire Capital SE bought a new position in shares of Larimar Therapeutics in the 3rd quarter valued at about $48,000. Fred Alger Management LLC lifted its holdings in shares of Larimar Therapeutics by 22.5% in the 3rd quarter. Fred Alger Management LLC now owns 116,269 shares of the company’s stock valued at $459,000 after acquiring an additional 21,331 shares during the last quarter. Adage Capital Partners GP L.L.C. grew its position in Larimar Therapeutics by 80.6% in the third quarter. Adage Capital Partners GP L.L.C. now owns 1,176,680 shares of the company’s stock worth $4,648,000 after acquiring an additional 525,000 shares in the last quarter. Finally, Assenagon Asset Management S.A. bought a new stake in Larimar Therapeutics during the first quarter worth approximately $4,829,000. 91.92% of the stock is owned by hedge funds and other institutional investors.

Larimar Therapeutics Price Performance

NASDAQ:LRMR opened at $7.77 on Monday. Larimar Therapeutics has a one year low of $2.18 and a one year high of $13.68. The business has a fifty day moving average price of $8.34 and a 200-day moving average price of $5.97. The firm has a market capitalization of $495.41 million, a price-to-earnings ratio of -8.92 and a beta of 0.96.

Larimar Therapeutics (NASDAQ:LRMR) last issued its quarterly earnings results on Thursday, March 14th. The company reported ($0.30) EPS for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.05). On average, equities research analysts expect that Larimar Therapeutics will post -1.24 earnings per share for the current fiscal year.

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.