Larimar Therapeutics (NASDAQ:LRMR) Price Target Raised to $13.00

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

Other equities analysts also recently issued research reports about the company. Lifesci Capital upgraded Larimar Therapeutics to a “strong-buy” rating in a research report on Tuesday, February 24th. Citigroup boosted their price target on Larimar Therapeutics from $12.00 to $14.00 and gave the stock a “buy” rating in a research report on Wednesday, February 25th. Leerink Partners raised Larimar Therapeutics to a “strong-buy” rating in a research note on Monday, January 5th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Larimar Therapeutics in a report on Thursday, January 22nd. Two 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 company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $16.43.

Larimar Therapeutics Stock Up 0.4%

LRMR opened at $4.49 on Friday. The company has a market cap of $466.42 million, a PE ratio of -2.03 and a beta of 0.90. Larimar Therapeutics has a twelve month low of $1.61 and a twelve month high of $6.42. The company has a 50-day moving average price of $3.95 and a 200 day moving average price of $3.92.

Larimar Therapeutics (NASDAQ:LRMR) last posted its quarterly earnings data 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). As a group, sell-side analysts expect that Larimar Therapeutics will post -1.15 earnings per share for the current year.

Insider Buying and Selling

In other Larimar Therapeutics news, Director James E. Flynn bought 5,000,000 shares of the firm’s stock in a transaction on Friday, February 27th. The shares were acquired 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 of the company’s stock, valued at $53,114,785. This trade represents a 88.92% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 4.50% of the company’s stock.

Institutional Investors Weigh In On Larimar Therapeutics

A number of large investors have recently made changes to their positions in the stock. CWM LLC lifted its position in Larimar Therapeutics by 10.3% during the third quarter. CWM LLC now owns 36,013 shares of the company’s stock worth $116,000 after buying an additional 3,361 shares in the last quarter. BNP Paribas Financial Markets grew its holdings in Larimar Therapeutics by 75.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 10,146 shares of the company’s stock valued at $33,000 after buying an additional 4,376 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in Larimar Therapeutics by 33.9% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 18,248 shares of the company’s stock valued at $59,000 after buying an additional 4,619 shares in the last quarter. Velan Capital Investment Management LP increased its stake in shares of Larimar Therapeutics by 17.9% in the 2nd quarter. Velan Capital Investment Management LP now owns 33,000 shares of the company’s stock worth $95,000 after acquiring an additional 5,000 shares during the last quarter. Finally, American Century Companies Inc. increased its stake in shares of Larimar Therapeutics by 7.8% in the 2nd quarter. American Century Companies Inc. now owns 69,285 shares of the company’s stock worth $200,000 after acquiring an additional 5,001 shares during the last quarter. 91.92% of the stock is currently owned by hedge funds and other institutional investors.

About Larimar Therapeutics

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.