Brokerages Set Larimar Therapeutics, Inc. (NASDAQ:LRMR) Target Price at $16.29

Larimar Therapeutics, Inc. (NASDAQ:LRMR) has received a consensus recommendation of “Buy” from the ten ratings firms that are covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, seven have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $16.2857.

A number of research analysts have weighed in on LRMR shares. Citigroup upped their price objective on shares of Larimar Therapeutics from $12.00 to $14.00 and gave the stock a “buy” rating in a research report on Wednesday, February 25th. Lifesci Capital upgraded Larimar Therapeutics to a “strong-buy” rating in a research report on Tuesday, February 24th. Weiss Ratings restated a “sell (d-)” rating on shares of Larimar Therapeutics in a research note on Thursday, January 22nd. Leerink Partners raised Larimar Therapeutics to a “strong-buy” rating in a report on Monday, January 5th. Finally, Wedbush increased their price target on Larimar Therapeutics from $11.00 to $12.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 3rd.

Insider Buying and Selling at Larimar Therapeutics

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

Hedge Funds Weigh In On Larimar Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of the business. BNP Paribas Financial Markets boosted its stake in Larimar Therapeutics by 75.8% during the third quarter. BNP Paribas Financial Markets now owns 10,146 shares of the company’s stock worth $33,000 after buying an additional 4,376 shares during the last quarter. Savant Capital LLC acquired a new stake in shares of Larimar Therapeutics in the 2nd quarter worth $39,000. B.O.S.S. Retirement Advisors LLC acquired a new stake in shares of Larimar Therapeutics in the 3rd quarter worth $41,000. Coldstream Capital Management Inc. purchased a new position in shares of Larimar Therapeutics during the 3rd quarter worth $57,000. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in shares of Larimar Therapeutics by 33.9% during the 3rd 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 period. 91.92% of the stock is currently owned by institutional investors and hedge funds.

Larimar Therapeutics Stock Performance

Shares of NASDAQ LRMR opened at $4.59 on Friday. The company’s fifty day moving average price is $3.85 and its 200 day moving average price is $3.90. Larimar Therapeutics has a 1 year low of $1.61 and a 1 year high of $6.42. The company has a market capitalization of $475.48 million, a PE ratio of -2.38 and a beta of 0.91.

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.