Wedbush Lowers Larimar Therapeutics (NASDAQ:LRMR) Price Target to $15.00

Larimar Therapeutics (NASDAQ:LRMRGet Free Report) had its price target decreased by research analysts at Wedbush from $17.00 to $15.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Wedbush’s price target would suggest a potential upside of 361.54% from the company’s previous close.

A number of other equities research analysts have also weighed in on the stock. Robert W. Baird lowered their price target on shares of Larimar Therapeutics from $13.00 to $10.00 and set an “outperform” rating for the company in a report on Tuesday, March 25th. Guggenheim restated a “buy” rating and set a $26.00 target price on shares of Larimar Therapeutics in a research note on Tuesday. Citigroup restated a “buy” rating on shares of Larimar Therapeutics in a research note on Tuesday, March 25th. Finally, HC Wainwright raised their price objective on Larimar Therapeutics from $15.00 to $16.00 and gave the company a “buy” rating in a research note on Tuesday, March 25th. Eight investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $18.50.

Check Out Our Latest Research Report on Larimar Therapeutics

Larimar Therapeutics Stock Performance

LRMR stock opened at $3.25 on Tuesday. Larimar Therapeutics has a 1 year low of $1.61 and a 1 year high of $11.20. The stock has a 50-day simple moving average of $2.37 and a 200-day simple moving average of $2.96. The firm has a market cap of $208.10 million, a P/E ratio of -2.18 and a beta of 0.79.

Larimar Therapeutics (NASDAQ:LRMRGet Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The company reported ($0.46) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.42) by ($0.04). On average, equities research analysts predict that Larimar Therapeutics will post -1.15 EPS for the current year.

Hedge Funds Weigh In On Larimar Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Fi3 FINANCIAL ADVISORS LLC boosted its holdings in shares of Larimar Therapeutics by 16.7% during the fourth quarter. Fi3 FINANCIAL ADVISORS LLC now owns 23,798 shares of the company’s stock valued at $92,000 after acquiring an additional 3,411 shares during the period. Envestnet Asset Management Inc. boosted its holdings in shares of Larimar Therapeutics by 12.3% during the fourth quarter. Envestnet Asset Management Inc. now owns 35,525 shares of the company’s stock valued at $137,000 after acquiring an additional 3,877 shares during the period. Bank of America Corp DE boosted its holdings in shares of Larimar Therapeutics by 8.1% during the fourth quarter. Bank of America Corp DE now owns 53,190 shares of the company’s stock valued at $206,000 after acquiring an additional 3,980 shares during the period. BNP Paribas Financial Markets acquired a new position in Larimar Therapeutics during the 4th quarter valued at about $25,000. Finally, Wells Fargo & Company MN boosted its stake in Larimar Therapeutics by 51.7% during the 4th quarter. Wells Fargo & Company MN now owns 19,657 shares of the company’s stock valued at $76,000 after purchasing an additional 6,701 shares during the period. 91.92% of the stock is currently owned by institutional investors and hedge funds.

About Larimar Therapeutics

(Get Free Report)

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.

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Analyst Recommendations for Larimar Therapeutics (NASDAQ:LRMR)

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