Oppenheimer Cuts Larimar Therapeutics (NASDAQ:LRMR) Price Target to $21.00

Larimar Therapeutics (NASDAQ:LRMR) had its price objective decreased by Oppenheimer from $26.00 to $21.00 in a research report report published on Thursday, MarketBeat reports. Oppenheimer currently has an outperform rating on the stock.

Other equities research analysts also recently issued reports about the company. Wedbush lowered their price target on Larimar Therapeutics from $15.00 to $11.00 and set an “outperform” rating on the stock in a research report on Tuesday, September 30th. Robert W. Baird lowered their target price on Larimar Therapeutics from $10.00 to $7.00 and set an “outperform” rating on the stock in a report on Tuesday. Guggenheim reaffirmed a “buy” rating and issued a $26.00 price target on shares of Larimar Therapeutics in a research report on Tuesday, June 24th. Citigroup reissued a “buy” rating on shares of Larimar Therapeutics in a research report on Tuesday, June 24th. Finally, JMP Securities lowered their price objective on shares of Larimar Therapeutics from $22.00 to $18.00 and set a “market outperform” rating on the stock in a research note on Friday, August 15th. Nine analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $16.71.

Larimar Therapeutics Trading Up 13.8%

NASDAQ:LRMR opened at $4.87 on Thursday. The business’s fifty day moving average price is $3.93 and its 200 day moving average price is $3.00. The firm has a market capitalization of $403.14 million, a price-to-earnings ratio of -3.12 and a beta of 1.00. Larimar Therapeutics has a 1-year low of $1.61 and a 1-year high of $9.50.

Larimar Therapeutics (NASDAQ:LRMR) last released its earnings results on Thursday, August 14th. The company reported ($0.41) earnings per share for the quarter, beating the consensus estimate of ($0.47) by $0.06. Equities analysts forecast that Larimar Therapeutics will post -1.15 earnings per share for the current year.

Insider Activity

In other news, Director James E. Flynn purchased 9,375,000 shares of the business’s stock in a transaction that occurred on Thursday, July 31st. The stock was purchased at an average cost of $3.20 per share, with a total value of $30,000,000.00. Following the acquisition, the director directly owned 9,538,945 shares of the company’s stock, valued at approximately $30,524,624. This trade represents a 5,718.38% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 4.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Larimar Therapeutics

A number of large investors have recently bought and sold shares of the business. Opaleye Management Inc. boosted its stake in 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 in the last quarter. Massar Capital Management LP bought a new stake in Larimar Therapeutics during the 2nd quarter worth about $149,000. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Larimar Therapeutics by 70.6% in the 2nd quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 307,198 shares of the company’s stock valued at $888,000 after acquiring an additional 127,171 shares in the last quarter. Velan Capital Investment Management LP increased its position in Larimar Therapeutics by 17.9% in the 2nd quarter. Velan Capital Investment Management LP now owns 33,000 shares of the company’s stock valued at $95,000 after acquiring an additional 5,000 shares in the last quarter. Finally, Cerity Partners LLC bought a new position in shares of Larimar Therapeutics in the second quarter worth about $636,000. 91.92% of the stock is currently owned by institutional investors.

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.