Robert W. Baird Lowers Larimar Therapeutics (NASDAQ:LRMR) Price Target to $10.00

Larimar Therapeutics (NASDAQ:LRMR) had its price target reduced by Robert W. Baird from $13.00 to $10.00 in a report issued on Tuesday,Benzinga reports. They currently have an outperform rating on the stock.

Several other analysts have also issued reports on LRMR. Truist Financial initiated coverage on shares of Larimar Therapeutics in a research report on Wednesday, January 29th. They issued a “buy” rating and a $18.00 price target on the stock. HC Wainwright reissued a “buy” rating and set a $15.00 target price on shares of Larimar Therapeutics in a report on Friday, January 24th. Eleven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $20.22.

Larimar Therapeutics Trading Up 1.3 %

Shares of NASDAQ LRMR opened at $2.31 on Tuesday. The firm has a market cap of $147.39 million, a price-to-earnings ratio of -2.01 and a beta of 0.99. The stock has a fifty day simple moving average of $3.14 and a two-hundred day simple moving average of $5.20. Larimar Therapeutics has a 1-year low of $2.22 and a 1-year high of $11.20.

Larimar Therapeutics (NASDAQ:LRMR) last posted its quarterly earnings results on Monday, March 24th. The company reported ($0.45) earnings per share for the quarter, missing the consensus estimate of ($0.29) by ($0.16). Analysts forecast that Larimar Therapeutics will post -1.15 EPS for the current year.

Institutional Investors Weigh In On Larimar Therapeutics

Large investors have recently added to or reduced their stakes in the business. Barclays PLC lifted its position in Larimar Therapeutics by 321.2% during the third quarter. Barclays PLC now owns 60,032 shares of the company’s stock valued at $393,000 after purchasing an additional 45,781 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in shares of Larimar Therapeutics by 27.2% during the 3rd quarter. Janus Henderson Group PLC now owns 5,566,855 shares of the company’s stock worth $36,379,000 after acquiring an additional 1,189,467 shares during the last quarter. SG Americas Securities LLC grew its position in Larimar Therapeutics by 35.1% in the fourth quarter. SG Americas Securities LLC now owns 19,391 shares of the company’s stock worth $75,000 after acquiring an additional 5,042 shares in the last quarter. XTX Topco Ltd bought a new position in Larimar Therapeutics in the third quarter valued at $100,000. Finally, Franklin Resources Inc. raised its position in Larimar Therapeutics by 21.9% during the third quarter. Franklin Resources Inc. now owns 19,723 shares of the company’s stock valued at $143,000 after purchasing an additional 3,549 shares in the last quarter. Institutional investors own 91.92% of the company’s stock.

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.