Larimar Therapeutics (NASDAQ:LRMR – Get Free Report) had its price target decreased by investment analysts at Wedbush from $13.00 to $12.00 in a report issued on Monday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Wedbush’s target price points to a potential upside of 235.20% from the company’s previous close.
Several other brokerages have also weighed in on LRMR. Weiss Ratings restated a “sell (d-)” rating on shares of Larimar Therapeutics in a research note on Tuesday, April 21st. Lifesci Capital upgraded Larimar Therapeutics to a “strong-buy” rating in a research note on Tuesday, February 24th. Wall Street Zen upgraded Larimar Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Saturday. Citigroup lifted their price target on Larimar Therapeutics from $12.00 to $14.00 and gave the company a “buy” rating in a research note on Wednesday, February 25th. Finally, Truist Financial upgraded Larimar Therapeutics to a “strong-buy” rating in a report on Wednesday, March 25th. Three research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Larimar Therapeutics currently has a consensus rating of “Buy” and an average target price of $16.33.
View Our Latest Stock Report on Larimar Therapeutics
Larimar Therapeutics Price Performance
Larimar Therapeutics (NASDAQ:LRMR – Get Free Report) last announced its quarterly earnings results on Thursday, May 14th. The company reported ($0.31) earnings per share for the quarter, beating the consensus estimate of ($0.53) by $0.22. On average, sell-side analysts expect that Larimar Therapeutics will post -1.68 EPS for the current year.
Insider Transactions at Larimar Therapeutics
In other news, Director James E. Flynn acquired 5,000,000 shares of the stock in a transaction that occurred on Friday, February 27th. The shares were bought at an average cost of $5.00 per share, for a total transaction of $25,000,000.00. Following the acquisition, the director owned 10,622,957 shares in the company, valued at approximately $53,114,785. This represents a 88.92% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 4.50% of the company’s stock.
Institutional Investors Weigh In On Larimar Therapeutics
Several institutional investors have recently bought and sold shares of LRMR. BNP Paribas Financial Markets boosted its holdings in Larimar Therapeutics by 75.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 10,146 shares of the company’s stock worth $33,000 after buying an additional 4,376 shares during the last quarter. B.O.S.S. Retirement Advisors LLC acquired a new stake in Larimar Therapeutics in the 3rd quarter worth about $41,000. Coldstream Capital Management Inc. acquired a new stake in Larimar Therapeutics in the 3rd quarter worth about $57,000. Wealth Enhancement Advisory Services LLC boosted its holdings in Larimar Therapeutics by 33.9% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 18,248 shares of the company’s stock worth $59,000 after buying an additional 4,619 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new stake in Larimar Therapeutics in the 4th quarter worth about $60,000. 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. Larimar Therapeutics, Inc is based in Bala Cynwyd, Pennsylvania.
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