Brokerages Set Larimar Therapeutics, Inc. (NASDAQ:LRMR) PT at $11.67

Shares of Larimar Therapeutics, Inc. (NASDAQ:LRMR) have been assigned a consensus rating of “Buy” from the ten research firms that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating, six have assigned a buy rating and three have assigned a strong buy rating to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $11.6667.

A number of research firms recently weighed in on LRMR. HC Wainwright began coverage on shares of Larimar Therapeutics in a research report on Thursday, July 2nd. They issued a “buy” rating and a $10.00 target price for the company. Robert W. Baird lowered their price target on Larimar Therapeutics from $7.00 to $5.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 30th. Wedbush dropped their price objective on shares of Larimar Therapeutics from $12.00 to $11.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 5th. JPMorgan Chase & Co. began coverage on shares of Larimar Therapeutics in a research report on Wednesday, May 27th. They issued an “overweight” rating and a $9.00 target price for the company. Finally, Wall Street Zen upgraded Larimar Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 16th.

Insider Activity

In other news, Director Thomas Hamilton acquired 50,000 shares of the firm’s stock in a transaction that occurred on Monday, July 6th. The shares were acquired at an average cost of $3.34 per share, with a total value of $167,000.00. Following the completion of the purchase, the director directly owned 714,798 shares of the company’s stock, valued at $2,387,425.32. The trade was a 7.52% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 4.00% of the company’s stock.

Institutional Trading of Larimar Therapeutics

Large investors have recently bought and sold shares of the business. Deerfield Management Company L.P. boosted its position in Larimar Therapeutics by 44.2% in the third quarter. Deerfield Management Company L.P. now owns 30,606,974 shares of the company’s stock valued at $98,861,000 after buying an additional 9,375,000 shares in the last quarter. BlackRock Inc. bought a new stake in Larimar Therapeutics during the 2nd quarter worth approximately $17,318,000. Opaleye Management Inc. grew its stake in shares of Larimar Therapeutics by 114.7% in the second quarter. Opaleye Management Inc. now owns 4,110,000 shares of the company’s stock worth $11,878,000 after purchasing an additional 2,195,923 shares during the last quarter. Woodline Partners LP increased its stake in shares of Larimar Therapeutics by 160.6% in the third quarter. Woodline Partners LP now owns 1,622,850 shares of the company’s stock valued at $5,242,000 after buying an additional 1,000,168 shares during the period. Finally, AIGH Capital Management LLC increased its position in Larimar Therapeutics by 50.0% during the 1st quarter. AIGH Capital Management LLC now owns 3,000,000 shares of the company’s stock valued at $13,500,000 after purchasing an additional 1,000,000 shares during the period. 91.92% of the stock is owned by institutional investors and hedge funds.

Larimar Therapeutics Price Performance

Larimar Therapeutics stock opened at $3.83 on Monday. The stock has a market capitalization of $397.86 million, a PE ratio of -1.96 and a beta of 0.74. Larimar Therapeutics has a twelve month low of $2.71 and a twelve month high of $6.42. The company has a 50 day moving average of $3.89 and a 200-day moving average of $4.09.

Larimar Therapeutics (NASDAQ:LRMR) last released its quarterly earnings results on Tuesday, August 4th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.38) by $0.08. Equities analysts anticipate that Larimar Therapeutics will post -1.5 EPS for the current fiscal year.

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.