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

Shares of Larimar Therapeutics, Inc. (NASDAQ:LRMR) have earned a consensus rating of “Buy” from the six brokerages that are currently covering the company, Marketbeat reports. Six analysts have rated the stock with a buy recommendation. The average 1 year target price among analysts that have issued a report on the stock in the last year is $18.50.

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

Larimar Therapeutics Price Performance

Shares of Larimar Therapeutics stock opened at $7.77 on Monday. The stock has a market capitalization of $495.41 million, a P/E ratio of -8.92 and a beta of 0.96. The business has a 50 day simple moving average of $8.34 and a two-hundred day simple moving average of $5.97. Larimar Therapeutics has a 12 month low of $2.18 and a 12 month high of $13.68.

Larimar Therapeutics (NASDAQ:LRMR) last posted its quarterly earnings data on Thursday, March 14th. The company reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.25) by ($0.05). As a group, research analysts anticipate that Larimar Therapeutics will post -1.24 EPS for the current fiscal year.

Insider Activity

In other news, Director James E. Flynn purchased 4,290,617 shares of Larimar Therapeutics stock in a transaction dated Friday, February 16th. The shares were purchased at an average price of $8.74 per share, with a total value of $37,499,992.58. Following the transaction, the director now owns 6,151,406 shares in the company, valued at $53,763,288.44. The purchase was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 4.30% of the company’s stock.

Institutional Trading of Larimar Therapeutics

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

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.