Analysts Set Larimar Therapeutics, Inc. (NASDAQ:LRMR) Target Price at $16.29

Larimar Therapeutics, Inc. (NASDAQ:LRMR) has earned a consensus recommendation of “Buy” from the ten ratings firms that are presently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, seven have issued a buy rating and two have issued a strong buy rating on the company. The average 12-month price target among brokers that have covered the stock in the last year is $16.2857.

Several equities analysts have commented on the company. Wedbush raised their price objective on Larimar Therapeutics from $11.00 to $12.00 and gave the company an “outperform” rating in a research report on Tuesday, March 3rd. Citigroup increased their price target on shares of Larimar Therapeutics from $12.00 to $14.00 and gave the stock a “buy” rating in a research note on Wednesday, February 25th. Lifesci Capital raised shares of Larimar Therapeutics to a “strong-buy” rating in a research report on Tuesday, February 24th. Leerink Partners raised shares of Larimar Therapeutics to a “strong-buy” rating in a research note on Monday, January 5th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Larimar Therapeutics in a report on Thursday, January 22nd.

Larimar Therapeutics Stock Down 1.4%

NASDAQ LRMR opened at $5.61 on Friday. The firm has a market capitalization of $581.14 million, a PE ratio of -2.91 and a beta of 0.91. The stock’s 50 day moving average is $3.77 and its 200 day moving average is $3.87. Larimar Therapeutics has a twelve month low of $1.61 and a twelve month high of $6.42.

Insider Buying and Selling at Larimar Therapeutics

In related news, Director James E. Flynn purchased 5,000,000 shares of the business’s stock in a transaction that occurred on Friday, February 27th. The shares were bought at an average price of $5.00 per share, for a total transaction of $25,000,000.00. Following the purchase, the director directly owned 10,622,957 shares of the company’s stock, valued at approximately $53,114,785. This represents a 88.92% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 4.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Larimar Therapeutics

Several hedge funds have recently added to or reduced their stakes in LRMR. Deerfield Management Company L.P. increased its holdings in shares of Larimar Therapeutics by 44.2% during the third quarter. Deerfield Management Company L.P. now owns 30,606,974 shares of the company’s stock valued at $98,861,000 after acquiring an additional 9,375,000 shares in the last quarter. Blue Owl Capital Holdings LP grew its position in Larimar Therapeutics by 16.6% during the 4th quarter. Blue Owl Capital Holdings LP now owns 6,823,690 shares of the company’s stock valued at $25,998,000 after purchasing an additional 970,650 shares during the last quarter. Millennium Management LLC increased its stake in Larimar Therapeutics by 7.2% during the 4th quarter. Millennium Management LLC now owns 5,206,364 shares of the company’s stock valued at $19,836,000 after purchasing an additional 349,533 shares in the last quarter. Opaleye Management Inc. increased its stake in Larimar Therapeutics by 114.7% during the 2nd quarter. Opaleye Management Inc. now owns 4,110,000 shares of the company’s stock valued at $11,878,000 after purchasing an additional 2,195,923 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in Larimar Therapeutics by 44.2% in the third quarter. Vanguard Group Inc. now owns 3,087,840 shares of the company’s stock worth $9,974,000 after buying an additional 945,809 shares during the last quarter. 91.92% of the stock is owned by institutional investors.

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