Larimar Therapeutics (NASDAQ:LRMR) Earns Outperform Rating from Analysts at Robert W. Baird

Analysts at Robert W. Baird initiated coverage on shares of Larimar Therapeutics (NASDAQ:LRMRGet Free Report) in a research note issued on Wednesday, Benzinga reports. The brokerage set an “outperform” rating and a $16.00 price target on the stock. Robert W. Baird’s target price indicates a potential upside of 131.21% from the stock’s current price.

Several other research analysts have also recently issued reports on LRMR. JMP Securities reaffirmed a “market outperform” rating and issued a $25.00 target price on shares of Larimar Therapeutics in a report on Friday, May 31st. Citigroup lifted their target price on Larimar Therapeutics from $10.00 to $14.00 and gave the stock a “buy” rating in a report on Wednesday, May 22nd. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Larimar Therapeutics presently has an average rating of “Buy” and an average price target of $20.00.

Check Out Our Latest Research Report on LRMR

Larimar Therapeutics Trading Down 12.5 %

Shares of Larimar Therapeutics stock opened at $6.92 on Wednesday. The business has a fifty day simple moving average of $8.32 and a two-hundred day simple moving average of $8.38. The firm has a market capitalization of $441.57 million, a P/E ratio of -7.13 and a beta of 0.99. Larimar Therapeutics has a 12 month low of $2.18 and a 12 month high of $13.68.

Larimar Therapeutics (NASDAQ:LRMRGet Free Report) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($0.34) EPS for the quarter, missing the consensus estimate of ($0.32) by ($0.02). Analysts predict that Larimar Therapeutics will post -1.4 earnings per share for the current year.

Institutional Trading of Larimar Therapeutics

A number of hedge funds have recently bought and sold shares of LRMR. RA Capital Management L.P. bought a new position in shares of Larimar Therapeutics in the 1st quarter worth approximately $45,884,000. Janus Henderson Group PLC increased its stake in shares of Larimar Therapeutics by 52.2% in the 1st quarter. Janus Henderson Group PLC now owns 4,020,965 shares of the company’s stock worth $30,459,000 after purchasing an additional 1,379,900 shares in the last quarter. Vanguard Group Inc. raised its holdings in Larimar Therapeutics by 62.7% in the 1st quarter. Vanguard Group Inc. now owns 2,367,701 shares of the company’s stock worth $17,971,000 after purchasing an additional 912,458 shares during the period. Assenagon Asset Management S.A. purchased a new position in Larimar Therapeutics during the first quarter valued at $4,829,000. Finally, Millennium Management LLC lifted its position in Larimar Therapeutics by 30.2% during the second quarter. Millennium Management LLC now owns 1,018,135 shares of the company’s stock valued at $7,381,000 after purchasing an additional 235,865 shares in the last quarter. Hedge funds and other institutional investors own 91.92% of the company’s stock.

Larimar Therapeutics Company Profile

(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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