Analysts Set Larimar Therapeutics, Inc. (NASDAQ:LRMR) Target Price at $16.50
by Danessa Lincoln · The Markets DailyShares of Larimar Therapeutics, Inc. (NASDAQ:LRMR – Get Free Report) have been given a consensus recommendation of “Buy” by the ten ratings firms that are currently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, six have assigned a buy recommendation and three have given a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $16.50.
Several research analysts have issued reports on the company. Lifesci Capital raised Larimar Therapeutics to a “strong-buy” rating in a report on Tuesday, February 24th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Larimar Therapeutics in a report on Thursday, January 22nd. Truist Financial raised Larimar Therapeutics to a “strong-buy” rating in a report on Wednesday, March 25th. Citigroup boosted their target price on shares of Larimar Therapeutics from $12.00 to $14.00 and gave the company a “buy” rating in a research note on Wednesday, February 25th. Finally, Wedbush boosted their target price on shares of Larimar Therapeutics from $12.00 to $13.00 and gave the company an “outperform” rating in a research note on Friday, March 20th.
Read Our Latest Analysis on Larimar Therapeutics
Insider Transactions at Larimar Therapeutics
In other news, Director James E. Flynn bought 5,000,000 shares of the business’s stock in a transaction on Friday, February 27th. The shares were bought at an average cost of $5.00 per share, with a total value of $25,000,000.00. Following the purchase, the director directly owned 10,622,957 shares in the company, valued at $53,114,785. This trade represents a 88.92% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 4.50% of the stock is currently owned by company insiders.
Institutional Trading of Larimar Therapeutics
Large investors have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets raised its stake in Larimar Therapeutics by 75.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 10,146 shares of the company’s stock valued at $33,000 after purchasing an additional 4,376 shares during the period. B.O.S.S. Retirement Advisors LLC acquired a new stake in Larimar Therapeutics during the 3rd quarter valued at $41,000. SG Americas Securities LLC acquired a new stake in Larimar Therapeutics during the 4th quarter valued at $60,000. Coldstream Capital Management Inc. acquired a new stake in Larimar Therapeutics during the 3rd quarter valued at $57,000. Finally, Wealth Enhancement Advisory Services LLC raised its stake in Larimar Therapeutics by 33.9% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 18,248 shares of the company’s stock valued at $59,000 after purchasing an additional 4,619 shares during the period. 91.92% of the stock is owned by institutional investors and hedge funds.
Larimar Therapeutics Stock Performance
NASDAQ LRMR opened at $5.05 on Thursday. The stock has a market capitalization of $524.59 million, a P/E ratio of -2.29 and a beta of 1.02. Larimar Therapeutics has a 1 year low of $1.61 and a 1 year high of $6.42. The business’s fifty day moving average is $4.25 and its two-hundred day moving average is $3.97.
Larimar Therapeutics (NASDAQ:LRMR – Get Free Report) last posted its quarterly earnings results on Thursday, March 19th. The company reported ($0.73) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.43) by ($0.30). On average, research analysts forecast 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. Larimar Therapeutics, Inc is based in Bala Cynwyd, Pennsylvania.