Larimar Therapeutics (NASDAQ:LRMR) Price Target Raised to $12.00

by · The Markets Daily

Larimar Therapeutics (NASDAQ:LRMR – Free Report) had its target price raised by Wedbush from $11.00 to $12.00 in a research report report published on Tuesday morning, Marketbeat.com reports. Wedbush currently has an outperform rating on the stock.

A number of other research firms have also recently commented on LRMR. Citigroup increased their target price on shares of Larimar Therapeutics from $12.00 to $14.00 and gave the stock a “buy” rating in a report on Wednesday, February 25th. Lifesci Capital upgraded shares of Larimar Therapeutics to a “strong-buy” rating in a research report on Tuesday, February 24th. Leerink Partners upgraded shares of Larimar Therapeutics to a “strong-buy” rating in a research report on Monday, January 5th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Larimar Therapeutics in a research note on Thursday, January 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $16.29.

View Our Latest Stock Analysis on Larimar Therapeutics

Larimar Therapeutics Stock Performance

Larimar Therapeutics stock opened at $5.22 on Tuesday. Larimar Therapeutics has a 52 week low of $1.61 and a 52 week high of $6.42. The stock has a market capitalization of $540.74 million, a P/E ratio of -2.70 and a beta of 0.91. The stock has a fifty day moving average of $3.68 and a 200-day moving average of $3.84.

Insiders Place Their Bets

In other Larimar Therapeutics news, Director James E. Flynn purchased 5,000,000 shares of the firm’s stock in a transaction on Friday, February 27th. The stock was purchased at an average cost of $5.00 per share, for a total transaction of $25,000,000.00. Following the transaction, the director owned 10,622,957 shares in the company, valued at $53,114,785. The trade was a 88.92% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 4.50% of the stock is owned by insiders.

Institutional Trading of Larimar Therapeutics

Several institutional investors have recently modified their holdings of LRMR. BNP Paribas Financial Markets increased its holdings in Larimar Therapeutics by 75.8% in the third 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. Savant Capital LLC bought a new stake in shares of Larimar Therapeutics in the 2nd quarter valued at about $39,000. B.O.S.S. Retirement Advisors LLC acquired a new stake in shares of Larimar Therapeutics in the third quarter valued at about $41,000. Coldstream Capital Management Inc. bought a new position in shares of Larimar Therapeutics during the third quarter worth about $57,000. Finally, Wealth Enhancement Advisory Services LLC raised its position in shares of Larimar Therapeutics by 33.9% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 18,248 shares of the company’s stock worth $59,000 after acquiring an additional 4,619 shares during the last quarter. Institutional investors own 91.92% of the company’s stock.

About Larimar Therapeutics

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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.

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