Analysts Set Larimar Therapeutics, Inc. (NASDAQ:LRMR) Price Target at $11.67

Shares of Larimar Therapeutics, Inc. (NASDAQ:LRMR) have earned an average recommendation of “Buy” from the ten ratings firms that are covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, six have given a buy rating and three have given a strong buy rating to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $11.6667.

LRMR has been the topic of several research reports. Citigroup reaffirmed a “buy” rating on shares of Larimar Therapeutics in a report on Tuesday, June 30th. Weiss Ratings restated a “sell (d-)” rating on shares of Larimar Therapeutics in a report on Friday, July 17th. JPMorgan Chase & Co. assumed coverage on Larimar Therapeutics in a research report on Wednesday, May 27th. They set an “overweight” rating and a $9.00 target price on the stock. Wall Street Zen raised Larimar Therapeutics from a “strong sell” rating to a “sell” rating in a report on Saturday, May 16th. Finally, Wedbush decreased their price target on Larimar Therapeutics from $12.00 to $11.00 and set an “outperform” rating for the company in a research report on Wednesday, August 5th.

Insider Transactions at Larimar Therapeutics

In other news, Director Thomas Hamilton acquired 50,000 shares of Larimar Therapeutics stock in a transaction on Monday, July 6th. The stock was bought at an average cost of $3.34 per share, with a total value of $167,000.00. Following the completion of the purchase, the director owned 714,798 shares of the company’s stock, valued at $2,387,425.32. This represents a 7.52% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 4.00% of the company’s stock.

Hedge Funds Weigh In On Larimar Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. AQR Capital Management LLC acquired a new stake in shares of Larimar Therapeutics in the first quarter worth $241,000. Acadian Asset Management LLC purchased a new position in shares of Larimar Therapeutics during the first quarter valued at $113,000. Rhumbline Advisers raised its position in Larimar Therapeutics by 15.7% during the first quarter. Rhumbline Advisers now owns 65,018 shares of the company’s stock valued at $140,000 after buying an additional 8,818 shares during the period. American Century Companies Inc. raised its position in Larimar Therapeutics by 7.8% during the second quarter. American Century Companies Inc. now owns 69,285 shares of the company’s stock valued at $200,000 after buying an additional 5,001 shares during the period. Finally, Cerity Partners LLC purchased a new stake in Larimar Therapeutics in the 2nd quarter worth about $636,000. Institutional investors and hedge funds own 91.92% of the company’s stock.

Larimar Therapeutics Stock Performance

LRMR opened at $3.83 on Monday. The company has a market capitalization of $397.86 million, a PE ratio of -1.96 and a beta of 0.74. The stock’s fifty day moving average is $3.89 and its 200-day moving average is $4.08. Larimar Therapeutics has a one year low of $2.71 and a one year high of $6.42.

Larimar Therapeutics (NASDAQ:LRMR) last issued its quarterly earnings results on Tuesday, August 4th. The company reported ($0.30) EPS for the quarter, topping the consensus estimate of ($0.38) by $0.08. On average, equities research analysts forecast that Larimar Therapeutics will post -1.5 EPS for the current fiscal year.

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. Larimar Therapeutics, Inc is based in Bala Cynwyd, Pennsylvania.