Robert W. Baird Lowers Larimar Therapeutics (NASDAQ:LRMR) Price Target to $5.00

Larimar Therapeutics (NASDAQ:LRMR) had its price objective lowered by equities researchers at Robert W. Baird from $7.00 to $5.00 in a research 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 suggest a potential upside of 56.25% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. started coverage on shares of Larimar Therapeutics in a research note on Wednesday, May 27th. They set an “overweight” rating and a $9.00 target price on the stock. Truist Financial raised shares of Larimar Therapeutics to a “strong-buy” rating in a report on Wednesday, March 25th. Wall Street Zen upgraded shares of Larimar Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 16th. Weiss Ratings restated a “sell (d-)” rating on shares of Larimar Therapeutics in a report on Tuesday, April 21st. Finally, Citigroup reiterated a “buy” rating on shares of Larimar Therapeutics in a research note on Tuesday. Three equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $13.17.

Larimar Therapeutics Stock Performance

Shares of Larimar Therapeutics stock opened at $3.20 on Tuesday. The company has a 50-day simple moving average of $3.76 and a two-hundred day simple moving average of $3.96. The stock has a market capitalization of $332.43 million, a PE ratio of -1.55 and a beta of 0.83. Larimar Therapeutics has a 52-week low of $2.71 and a 52-week high of $6.42.

Larimar Therapeutics (NASDAQ:LRMR) 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. As a group, equities research analysts forecast that Larimar Therapeutics will post -1.66 EPS for the current fiscal year.

Hedge Funds Weigh In On Larimar Therapeutics

Institutional investors have recently made changes to their positions in the business. BNP Paribas Financial Markets boosted its stake in shares of Larimar Therapeutics by 75.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 10,146 shares of the company’s stock worth $33,000 after acquiring an additional 4,376 shares during the last quarter. Coldstream Capital Management Inc. purchased a new stake in Larimar Therapeutics in the third quarter worth about $57,000. SG Americas Securities LLC purchased a new stake in Larimar Therapeutics in the fourth quarter worth about $60,000. Sei Investments Co. raised its stake in shares of Larimar Therapeutics by 54.5% in the first quarter. Sei Investments Co. now owns 16,336 shares of the company’s stock worth $74,000 after buying an additional 5,763 shares during the period. Finally, Commonwealth Equity Services LLC bought a new position in shares of Larimar Therapeutics in the fourth quarter worth about $87,000. Institutional investors own 91.92% of the company’s stock.

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.