Larimar Therapeutics, Inc. (NASDAQ:LRMR) Receives $16.71 Consensus Price Target from Analysts

Larimar Therapeutics, Inc. (NASDAQ:LRMR) has been given an average recommendation of “Moderate Buy” by the ten brokerages that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating and nine have assigned a buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $16.7143.

A number of research analysts have recently commented on LRMR shares. JMP Securities lowered their price target on Larimar Therapeutics from $22.00 to $18.00 and set a “market outperform” rating on the stock in a report on Friday, August 15th. Oppenheimer lowered their price target on Larimar Therapeutics from $26.00 to $21.00 and set an “outperform” rating on the stock in a report on Thursday, October 2nd. Wedbush lowered their price target on Larimar Therapeutics from $15.00 to $11.00 and set an “outperform” rating on the stock in a report on Tuesday, September 30th. Robert W. Baird lowered their price target on Larimar Therapeutics from $10.00 to $7.00 and set an “outperform” rating on the stock in a report on Tuesday, September 30th. Finally, Guggenheim reissued a “buy” rating and set a $26.00 price target on shares of Larimar Therapeutics in a report on Tuesday, June 24th.

Insider Activity at Larimar Therapeutics

In other Larimar Therapeutics news, Director James E. Flynn purchased 9,375,000 shares of the stock in a transaction dated Thursday, July 31st. The shares were bought at an average cost of $3.20 per share, with a total value of $30,000,000.00. Following the completion of the acquisition, the director 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 ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 4.50% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Bank of America Corp DE boosted its stake in Larimar Therapeutics by 8.1% during the fourth quarter. Bank of America Corp DE now owns 53,190 shares of the company’s stock valued at $206,000 after buying an additional 3,980 shares in the last quarter. Velan Capital Investment Management LP boosted its stake in Larimar Therapeutics by 17.9% during the second quarter. Velan Capital Investment Management LP now owns 33,000 shares of the company’s stock valued at $95,000 after buying an additional 5,000 shares in the last quarter. American Century Companies Inc. boosted its stake in Larimar Therapeutics by 7.8% during the second quarter. American Century Companies Inc. now owns 69,285 shares of the company’s stock valued at $200,000 after buying an additional 5,001 shares in the last quarter. Rhumbline Advisers boosted its stake in Larimar Therapeutics by 15.7% during the first quarter. Rhumbline Advisers now owns 65,018 shares of the company’s stock valued at $140,000 after buying an additional 8,818 shares in the last quarter. Finally, Algert Global LLC boosted its stake in Larimar Therapeutics by 91.0% during the first quarter. Algert Global LLC now owns 23,280 shares of the company’s stock valued at $50,000 after buying an additional 11,090 shares in the last quarter. Institutional investors own 91.92% of the company’s stock.

Larimar Therapeutics Price Performance

Shares of LRMR opened at $4.36 on Thursday. The company has a market cap of $360.92 million, a P/E ratio of -2.79 and a beta of 1.00. The stock has a fifty day moving average price of $4.04 and a 200 day moving average price of $3.08. Larimar Therapeutics has a 12 month low of $1.61 and a 12 month high of $9.50.

Larimar Therapeutics (NASDAQ:LRMR) last issued its quarterly earnings data on Thursday, August 14th. The company reported ($0.41) EPS for the quarter, topping analysts’ consensus estimates of ($0.47) by $0.06. As a group, research analysts anticipate that Larimar Therapeutics will post -1.15 earnings per share for the current 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.