Robert W. Baird Lowers Larimar Therapeutics (NASDAQ:LRMR) Price Target to $5.00

Larimar Therapeutics (NASDAQ:LRMR) had its price target dropped by research analysts at Robert W. Baird from $7.00 to $5.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Robert W. Baird’s target price would suggest a potential upside of 56.25% from the company’s previous close.

LRMR has been the subject of several other research reports. JPMorgan Chase & Co. began coverage on shares of Larimar Therapeutics in a report on Wednesday, May 27th. They issued an “overweight” rating and a $9.00 target price for the company. Wedbush decreased their price target on Larimar Therapeutics from $13.00 to $12.00 and set an “outperform” rating on the stock in a report on Monday, May 18th. Weiss Ratings restated a “sell (d-)” rating on shares of Larimar Therapeutics in a research report on Tuesday, April 21st. Citigroup reaffirmed a “buy” rating on shares of Larimar Therapeutics in a research note on Tuesday. Finally, Wall Street Zen upgraded Larimar Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 16th. Three analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $13.17.

Larimar Therapeutics Price Performance

LRMR opened at $3.20 on Tuesday. The firm has a market cap of $332.43 million, a P/E ratio of -1.55 and a beta of 0.83. Larimar Therapeutics has a 1-year low of $2.71 and a 1-year high of $6.42. The company has a 50 day simple moving average of $3.76 and a two-hundred day simple moving average of $3.96.

Larimar Therapeutics (NASDAQ:LRMR) last announced its quarterly earnings data on Thursday, May 14th. The company reported ($0.31) EPS for the quarter, beating the consensus estimate of ($0.53) by $0.22. Equities analysts anticipate that Larimar Therapeutics will post -1.66 earnings per share for the current year.

Hedge Funds Weigh In On Larimar Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of LRMR. BNP Paribas Financial Markets grew its stake in Larimar Therapeutics by 75.8% during the third quarter. BNP Paribas Financial Markets now owns 10,146 shares of the company’s stock valued at $33,000 after acquiring an additional 4,376 shares in the last quarter. SG Americas Securities LLC bought a new stake in Larimar Therapeutics in the 4th quarter valued at $60,000. Sei Investments Co. lifted its stake in Larimar Therapeutics by 54.5% in the 1st quarter. Sei Investments Co. now owns 16,336 shares of the company’s stock worth $74,000 after purchasing an additional 5,763 shares in the last quarter. Coldstream Capital Management Inc. purchased a new stake in Larimar Therapeutics in the 3rd quarter worth $57,000. Finally, Strs Ohio lifted its stake in Larimar Therapeutics by 174.7% in the 1st quarter. Strs Ohio now owns 21,700 shares of the company’s stock worth $98,000 after purchasing an additional 13,800 shares in the last quarter. 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.