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

Robert W. Baird initiated coverage on shares of Larimar Therapeutics (NASDAQ:LRMR) in a research note released on Wednesday, MarketBeat reports. The brokerage issued an outperform rating and a $16.00 target price on the stock.

A number of other equities analysts also recently issued reports on the stock. 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 increased their target price on shares of Larimar Therapeutics from $10.00 to $14.00 and gave the company a buy rating in a report on Wednesday, May 22nd. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Larimar Therapeutics has an average rating of Buy and an average price target of $20.00.

Larimar Therapeutics Trading Down 9.6 %

NASDAQ LRMR opened at $8.05 on Wednesday. The stock has a market capitalization of $513.61 million, a price-to-earnings ratio of -8.30 and a beta of 0.99. The business’s 50 day moving average is $8.39 and its two-hundred day moving average is $8.35. Larimar Therapeutics has a 12-month low of $2.18 and a 12-month high of $13.68.

Larimar Therapeutics (NASDAQ:LRMR) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($0.34) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.02). Equities analysts forecast that Larimar Therapeutics will post -1.4 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Larimar Therapeutics

A number of large investors have recently added to or reduced their stakes in LRMR. Quarry LP lifted its holdings in shares of Larimar Therapeutics by 966.7% in the second quarter. Quarry LP now owns 8,000 shares of the company’s stock valued at $58,000 after purchasing an additional 7,250 shares in the last quarter. Thoroughbred Financial Services LLC purchased a new stake in Larimar Therapeutics in the 2nd quarter valued at approximately $94,000. EntryPoint Capital LLC acquired a new stake in Larimar Therapeutics during the 1st quarter valued at $106,000. AQR Capital Management LLC acquired a new stake in Larimar Therapeutics during the 2nd quarter valued at $113,000. Finally, The Manufacturers Life Insurance Company purchased a new position in Larimar Therapeutics during the second quarter worth $120,000. 91.92% of the stock is 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.