Larimar Therapeutics (NASDAQ:LRMR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Wednesday, Zacks.com reports. They presently have a $9.25 price objective on the stock. Zacks Investment Research‘s target price would suggest a potential upside of 10.25% from the company’s previous close.
According to Zacks, “Larimar Therapeutics Inc. is a clinical-stage biotechnology company. It is focused on developing treatments for rare diseases. The company’s lead product consist CTI-1601, which is in clinical stage. Larimar Therapeutics Inc., formerly known as Zafgen Inc., is based in BALA CYNWYD, Pa. “
Separately, JMP Securities reduced their target price on shares of Larimar Therapeutics from $43.00 to $30.00 and set an “outperform” rating on the stock in a report on Wednesday, May 26th.
Larimar Therapeutics (NASDAQ:LRMR) last posted its earnings results on Monday, May 10th. The company reported ($0.76) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.87) by $0.11. Analysts anticipate that Larimar Therapeutics will post -2.75 earnings per share for the current fiscal year.
Several institutional investors and hedge funds have recently made changes to their positions in the business. Ikarian Capital LLC acquired a new stake in shares of Larimar Therapeutics during the 1st quarter valued at approximately $6,215,000. Millennium Management LLC lifted its stake in Larimar Therapeutics by 859.7% in the 1st quarter. Millennium Management LLC now owns 353,763 shares of the company’s stock worth $5,168,000 after acquiring an additional 316,901 shares in the last quarter. Caas Capital Management LP purchased a new stake in Larimar Therapeutics in the 1st quarter worth about $3,202,000. Silverarc Capital Management LLC acquired a new position in Larimar Therapeutics in the 4th quarter worth about $4,650,000. Finally, BlackRock Inc. increased its holdings in shares of Larimar Therapeutics by 229.8% during the 4th quarter. BlackRock Inc. now owns 222,650 shares of the company’s stock valued at $4,768,000 after acquiring an additional 155,146 shares during the last quarter. 91.87% 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. The company's lead product candidate is CTI-1601, which is in Phase 1 clinical trial for the treatment of Friedreich's ataxia, a rare and progressive genetic disease. Larimar Therapeutics, Inc is headquartered in Bala Cynwyd, Pennsylvania.
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