Larimar Therapeutics (NASDAQ:LRMR) Receives New Coverage from Analysts at Robert W. Baird

Robert W. Baird assumed coverage on shares of Larimar Therapeutics (NASDAQ:LRMR) in a research report sent to investors on Wednesday, MarketBeat Ratings reports. The brokerage issued an outperform rating and a $16.00 target price on the stock.

Several other brokerages also recently weighed in on LRMR. JMP Securities reiterated a market outperform rating and issued a $25.00 price target on shares of Larimar Therapeutics in a report on Friday, May 31st. Citigroup boosted their price target on Larimar Therapeutics from $10.00 to $14.00 and gave the company a buy rating in a report on Wednesday, May 22nd. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of Buy and an average price target of $20.00.

Larimar Therapeutics Stock Performance

LRMR stock opened at $8.05 on Wednesday. The stock’s 50 day moving average price is $8.39 and its 200 day moving average price is $8.32. The firm has a market cap of $513.61 million, a P/E ratio of -8.30 and a beta of 0.99. Larimar Therapeutics has a 1 year low of $2.18 and a 1 year high of $13.68.

Larimar Therapeutics (NASDAQ:LRMR) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.34) earnings per share for the quarter, missing the consensus estimate of ($0.32) by ($0.02). On average, research analysts predict that Larimar Therapeutics will post -1.4 earnings per share for the current year.

Institutional Trading of Larimar Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in LRMR. RA Capital Management L.P. acquired a new stake in shares of Larimar Therapeutics during the 1st quarter worth $45,884,000. Janus Henderson Group PLC increased its holdings in shares of Larimar Therapeutics by 52.2% during the 1st quarter. Janus Henderson Group PLC now owns 4,020,965 shares of the company’s stock worth $30,459,000 after buying an additional 1,379,900 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of 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 buying an additional 912,458 shares during the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of Larimar Therapeutics during the 1st quarter worth $4,829,000. Finally, Millennium Management LLC increased its holdings in shares of Larimar Therapeutics by 30.2% during the 2nd quarter. Millennium Management LLC now owns 1,018,135 shares of the company’s stock worth $7,381,000 after buying an additional 235,865 shares during the last quarter. 91.92% of the stock is currently owned by institutional investors and hedge funds.

About Larimar Therapeutics

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.