Larimar Therapeutics (NASDAQ:LRMR) PT Raised to $14.00

Larimar Therapeutics (NASDAQ:LRMRGet Free Report) had its target price boosted by analysts at Citigroup from $10.00 to $14.00 in a report released on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the stock. Citigroup’s price target suggests a potential upside of 87.42% from the stock’s previous close.

Other equities research analysts also recently issued reports about the company. JMP Securities reiterated a “market outperform” rating and issued a $25.00 target price on shares of Larimar Therapeutics in a report on Tuesday. SVB Leerink initiated coverage on shares of Larimar Therapeutics in a research report on Wednesday, April 3rd. They set an “outperform” rating and a $25.00 target price on the stock. Lifesci Capital reissued an “outperform” rating on shares of Larimar Therapeutics in a research note on Tuesday, February 20th. Finally, Leerink Partnrs reaffirmed an “outperform” rating on shares of Larimar Therapeutics in a research note on Wednesday, April 3rd. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $21.33.

Read Our Latest Stock Analysis on Larimar Therapeutics

Larimar Therapeutics Price Performance

LRMR opened at $7.47 on Wednesday. Larimar Therapeutics has a fifty-two week low of $2.18 and a fifty-two week high of $13.68. The company’s 50 day moving average price is $7.42 and its two-hundred day moving average price is $6.46. The firm has a market capitalization of $476.59 million, a price-to-earnings ratio of -7.70 and a beta of 0.96.

Larimar Therapeutics (NASDAQ:LRMRGet Free Report) last posted its quarterly earnings data on Thursday, May 9th. The company reported ($0.27) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.03). As a group, equities research analysts predict that Larimar Therapeutics will post -1.29 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of LRMR. RA Capital Management L.P. bought a new stake in shares of Larimar Therapeutics during the first quarter worth about $45,884,000. Janus Henderson Group PLC boosted its stake in Larimar Therapeutics by 52.2% during the 1st quarter. Janus Henderson Group PLC now owns 4,020,965 shares of the company’s stock valued at $30,459,000 after purchasing an additional 1,379,900 shares during the last quarter. Vanguard Group Inc. increased its holdings in Larimar Therapeutics by 62.7% during 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 in the last quarter. Assenagon Asset Management S.A. purchased a new stake in shares of Larimar Therapeutics in the first quarter worth approximately $4,829,000. Finally, Adage Capital Partners GP L.L.C. lifted its holdings in shares of Larimar Therapeutics by 80.6% in the third quarter. Adage Capital Partners GP L.L.C. now owns 1,176,680 shares of the company’s stock valued at $4,648,000 after purchasing an additional 525,000 shares in the last quarter. Institutional investors and hedge funds own 91.92% of the company’s stock.

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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