Larimar Therapeutics (NASDAQ:LRMR) Given New $13.00 Price Target at Wedbush

Larimar Therapeutics (NASDAQ:LRMR) had its target price upped by Wedbush from $12.00 to $13.00 in a report released on Friday morning,Benzinga reports. Wedbush currently has an outperform rating on the stock.

A number of other research firms have also weighed in on LRMR. Lifesci Capital upgraded shares of 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. Citigroup upped 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. Finally, Leerink Partners upgraded Larimar Therapeutics to a “strong-buy” rating in a research note on Monday, January 5th. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Larimar Therapeutics currently has a consensus rating of “Buy” and an average price target of $16.43.

Larimar Therapeutics Trading Up 0.4%

Shares of NASDAQ:LRMR opened at $4.49 on Friday. The stock has a 50 day moving average of $3.95 and a 200 day moving average of $3.92. The company has a market cap of $465.12 million, a PE ratio of -2.03 and a beta of 0.91. Larimar Therapeutics has a 12-month low of $1.61 and a 12-month high of $6.42.

Larimar Therapeutics (NASDAQ:LRMR) last released its earnings results on Monday, March 23rd. The company reported ($0.73) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.43) by ($0.30). Equities research analysts predict that Larimar Therapeutics will post -1.15 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director James E. Flynn purchased 5,000,000 shares of the business’s stock in a transaction on Friday, February 27th. The stock was acquired at an average price of $5.00 per share, for a total transaction of $25,000,000.00. Following the acquisition, the director directly owned 10,622,957 shares of the company’s stock, valued at $53,114,785. This represents a 88.92% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 4.50% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of LRMR. XTX Topco Ltd grew its holdings in shares of Larimar Therapeutics by 127.1% in the fourth quarter. XTX Topco Ltd now owns 118,938 shares of the company’s stock valued at $453,000 after purchasing an additional 66,569 shares in the last quarter. Quadrature Capital Ltd raised its stake in Larimar Therapeutics by 195.4% during the fourth quarter. Quadrature Capital Ltd now owns 57,646 shares of the company’s stock valued at $220,000 after purchasing an additional 38,131 shares in the last quarter. Millennium Management LLC raised its stake in Larimar Therapeutics by 7.2% during the fourth quarter. Millennium Management LLC now owns 5,206,364 shares of the company’s stock valued at $19,836,000 after purchasing an additional 349,533 shares in the last quarter. Man Group plc bought a new position in Larimar Therapeutics during the fourth quarter valued at $149,000. Finally, Bridgeway Capital Management LLC grew its stake in shares of Larimar Therapeutics by 42.2% in the 4th quarter. Bridgeway Capital Management LLC now owns 111,216 shares of the company’s stock worth $424,000 after buying an additional 33,000 shares in the last quarter. 91.92% of the stock is currently owned by institutional investors.

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.