Robert W. Baird Lowers Larimar Therapeutics (NASDAQ:LRMR) Price Target to $10.00

Larimar Therapeutics (NASDAQ:LRMR) had its price target dropped by analysts at Robert W. Baird from $13.00 to $10.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Robert W. Baird’s target price would indicate a potential upside of 344.44% from the stock’s previous close.

Other analysts have also recently issued research reports about the stock. Truist Financial started coverage on shares of Larimar Therapeutics in a research note on Wednesday, January 29th. They set a “buy” rating and a $18.00 target price for the company. HC Wainwright reissued a “buy” rating and issued a $15.00 price objective on shares of Larimar Therapeutics in a research note on Friday, January 24th. Eleven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $20.22.

Larimar Therapeutics Stock Down 2.6 %

LRMR stock opened at $2.25 on Tuesday. Larimar Therapeutics has a 52-week low of $2.19 and a 52-week high of $11.20. The company’s 50-day simple moving average is $3.11 and its 200-day simple moving average is $5.18. The firm has a market cap of $143.57 million, a P/E ratio of -1.96 and a beta of 0.99.

Larimar Therapeutics (NASDAQ:LRMR) last issued its quarterly earnings data on Monday, March 24th. The company reported ($0.45) EPS for the quarter, missing the consensus estimate of ($0.29) by ($0.16). On average, analysts anticipate that Larimar Therapeutics will post -1.15 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Larimar Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the company. Barclays PLC increased its holdings in shares of Larimar Therapeutics by 321.2% during the 3rd quarter. Barclays PLC now owns 60,032 shares of the company’s stock worth $393,000 after buying an additional 45,781 shares during the last quarter. Janus Henderson Group PLC raised its holdings in Larimar Therapeutics by 27.2% in the 3rd quarter. Janus Henderson Group PLC now owns 5,566,855 shares of the company’s stock valued at $36,379,000 after buying an additional 1,189,467 shares during the period. SG Americas Securities LLC lifted its position in Larimar Therapeutics by 35.1% in the fourth quarter. SG Americas Securities LLC now owns 19,391 shares of the company’s stock valued at $75,000 after buying an additional 5,042 shares during the last quarter. XTX Topco Ltd acquired a new stake in shares of Larimar Therapeutics during the third quarter valued at about $100,000. Finally, Franklin Resources Inc. raised its stake in shares of Larimar Therapeutics by 21.9% in the 3rd quarter. Franklin Resources Inc. now owns 19,723 shares of the company’s stock valued at $143,000 after acquiring an additional 3,549 shares during the period. 91.92% of the stock is currently owned by institutional investors and hedge funds.

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.