Larimar Therapeutics, Inc. (NASDAQ:LRMR) Receives $12.57 Consensus Price Target from Brokerages

Shares of Larimar Therapeutics, Inc. (NASDAQ:LRMR) have earned a consensus rating of “Buy” from the eleven analysts that are covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, seven have given a buy recommendation and three have assigned a strong buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $12.5714.

A number of analysts have weighed in on the company. Citigroup reaffirmed a “buy” rating on shares of Larimar Therapeutics in a research report on Tuesday, June 30th. Robert W. Baird cut their price target on shares of Larimar Therapeutics from $7.00 to $5.00 and set an “outperform” rating for the company in a report on Tuesday, June 30th. Wedbush reduced their price objective on shares of Larimar Therapeutics from $12.00 to $11.00 and set an “outperform” rating for the company in a research note on Wednesday. Wall Street Zen raised shares of Larimar Therapeutics from a “strong sell” rating to a “sell” rating in a report on Saturday, May 16th. Finally, JPMorgan Chase & Co. initiated coverage on shares of Larimar Therapeutics in a research report on Wednesday, May 27th. They set an “overweight” rating and a $9.00 target price on the stock.

Larimar Therapeutics Stock Performance

Shares of LRMR stock opened at $4.16 on Thursday. The company has a 50 day moving average price of $3.64 and a 200 day moving average price of $3.98. Larimar Therapeutics has a fifty-two week low of $2.71 and a fifty-two week high of $6.42. The stock has a market capitalization of $432.14 million, a P/E ratio of -2.13 and a beta of 0.81.

Larimar Therapeutics (NASDAQ:LRMR) last posted its quarterly earnings results on Tuesday, August 4th. The company reported ($0.30) EPS for the quarter, topping the consensus estimate of ($0.38) by $0.08. On average, research analysts forecast that Larimar Therapeutics will post -1.5 EPS for the current fiscal year.

Insider Buying and Selling at Larimar Therapeutics

In other news, Director Thomas Edward Hamilton purchased 50,000 shares of the company’s stock in a transaction dated Monday, July 6th. The stock was acquired at an average price of $3.34 per share, for a total transaction of $167,000.00. Following the completion of the transaction, the director directly owned 714,798 shares in the company, valued at $2,387,425.32. This represents a 7.52% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. 4.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Larimar Therapeutics

Large investors have recently added to or reduced their stakes in the business. AQR Capital Management LLC acquired a new position in Larimar Therapeutics during the first quarter worth about $241,000. Acadian Asset Management LLC purchased a new position in shares of Larimar Therapeutics during the 1st quarter worth approximately $113,000. Rhumbline Advisers raised its position in shares of Larimar Therapeutics by 15.7% during the 1st quarter. Rhumbline Advisers now owns 65,018 shares of the company’s stock worth $140,000 after purchasing an additional 8,818 shares during the last quarter. American Century Companies Inc. raised its position in shares of Larimar Therapeutics by 7.8% during the 2nd quarter. American Century Companies Inc. now owns 69,285 shares of the company’s stock worth $200,000 after purchasing an additional 5,001 shares during the last quarter. Finally, Cerity Partners LLC purchased a new stake in Larimar Therapeutics in the 2nd quarter valued at approximately $636,000. 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. Larimar Therapeutics, Inc is based in Bala Cynwyd, Pennsylvania.