Larimar Therapeutics, Inc. (NASDAQ:LRMR) Receives $12.71 Average Target Price from Brokerages

Shares of Larimar Therapeutics, Inc. (NASDAQ:LRMR) have earned a consensus recommendation of “Buy” from the eleven analysts that are presently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, seven have issued a buy rating and three have given a strong buy rating to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $12.7143.

A number of research firms have issued reports on LRMR. Wedbush decreased their price objective on shares of Larimar Therapeutics from $13.00 to $12.00 and set an “outperform” rating on the stock in a research report on Monday, May 18th. JPMorgan Chase & Co. started coverage on shares of Larimar Therapeutics in a report on Wednesday, May 27th. They set an “overweight” rating and a $9.00 target price for the company. Wall Street Zen raised Larimar Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 16th. Truist Financial upgraded Larimar Therapeutics to a “strong-buy” rating in a report on Wednesday, March 25th. Finally, Robert W. Baird reduced their price target on Larimar Therapeutics from $7.00 to $5.00 and set an “outperform” rating on the stock in a report on Tuesday, June 30th.

Larimar Therapeutics Stock Performance

Shares of Larimar Therapeutics stock opened at $3.72 on Friday. Larimar Therapeutics has a 52-week low of $2.71 and a 52-week high of $6.42. The company’s 50 day moving average price is $3.56 and its 200-day moving average price is $3.94. The stock has a market capitalization of $386.43 million, a price-to-earnings ratio of -1.81 and a beta of 0.83.

Larimar Therapeutics (NASDAQ:LRMR) last posted its quarterly earnings results on Thursday, May 14th. The company reported ($0.31) EPS for the quarter, beating analysts’ consensus estimates of ($0.53) by $0.22. As a group, equities research analysts forecast that Larimar Therapeutics will post -1.65 earnings per share for the current fiscal year.

Insider Activity

In other Larimar Therapeutics news, Director Thomas Edward Hamilton bought 50,000 shares of the firm’s stock in a transaction that occurred on Monday, July 6th. The stock was bought at an average price of $3.34 per share, for a total transaction of $167,000.00. Following the completion of the acquisition, the director directly owned 714,798 shares in the company, valued at $2,387,425.32. The trade was a 7.52% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 4.50% of the company’s stock.

Institutional Trading of Larimar Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Deerfield Management Company L.P. boosted its stake in shares of Larimar Therapeutics by 44.2% during 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 purchasing an additional 9,375,000 shares in the last quarter. Opaleye Management Inc. increased its position in shares of Larimar Therapeutics by 114.7% during the second quarter. Opaleye Management Inc. now owns 4,110,000 shares of the company’s stock valued at $11,878,000 after buying an additional 2,195,923 shares during the period. Woodline Partners LP raised its stake in Larimar Therapeutics by 160.6% in the third quarter. Woodline Partners LP now owns 1,622,850 shares of the company’s stock worth $5,242,000 after buying an additional 1,000,168 shares in the last quarter. AIGH Capital Management LLC raised its stake 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 worth $13,500,000 after buying an additional 1,000,000 shares in the last quarter. Finally, Blue Owl Capital Holdings LP raised its stake in Larimar Therapeutics by 16.6% in the fourth quarter. Blue Owl Capital Holdings LP now owns 6,823,690 shares of the company’s stock worth $25,998,000 after buying an additional 970,650 shares in the last quarter. Hedge funds and other institutional investors own 91.92% of the company’s stock.

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.