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

Larimar Therapeutics (NASDAQ:LRMR) had its price target decreased by analysts at Robert W. Baird from $13.00 to $10.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Robert W. Baird’s price objective points to a potential upside of 338.60% from the stock’s current price.

Several other research firms have also issued reports on LRMR. Truist Financial started coverage on shares of Larimar Therapeutics in a report on Wednesday, January 29th. They set a “buy” rating and a $18.00 price target for the company. HC Wainwright reissued a “buy” rating and set a $15.00 target price on shares of Larimar Therapeutics in a research note on Friday, January 24th. Ten research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $19.50.

Larimar Therapeutics Stock Performance

Shares of NASDAQ LRMR opened at $2.28 on Tuesday. The firm has a 50 day moving average price of $3.16 and a two-hundred day moving average price of $5.24. The stock has a market cap of $145.48 million, a P/E ratio of -1.98 and a beta of 0.99. Larimar Therapeutics has a 52-week low of $2.25 and a 52-week high of $11.20.

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

Hedge Funds Weigh In On Larimar Therapeutics

Institutional investors have recently made changes to their positions in the stock. Quest Partners LLC increased its position in Larimar Therapeutics by 171.1% in the 3rd quarter. Quest Partners LLC now owns 9,183 shares of the company’s stock valued at $60,000 after buying an additional 5,796 shares in the last quarter. Intech Investment Management LLC acquired a new stake in Larimar Therapeutics in the third quarter valued at approximately $85,000. Janus Henderson Group PLC increased its holdings in shares of Larimar Therapeutics by 27.2% during the third quarter. Janus Henderson Group PLC now owns 5,566,855 shares of the company’s stock valued at $36,379,000 after acquiring an additional 1,189,467 shares in the last quarter. Quarry LP increased its holdings in shares of Larimar Therapeutics by 50.0% during the third quarter. Quarry LP now owns 12,000 shares of the company’s stock valued at $79,000 after acquiring an additional 4,000 shares in the last quarter. Finally, Sphera Funds Management LTD. raised its position in shares of Larimar Therapeutics by 32.6% during the third quarter. Sphera Funds Management LTD. now owns 414,478 shares of the company’s stock worth $2,715,000 after purchasing an additional 102,009 shares during the period. Institutional investors and hedge funds own 91.92% of the company’s stock.

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.