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

Larimar Therapeutics (NASDAQ:LRMR) had its target price reduced by Robert W. Baird from $13.00 to $10.00 in a research note issued to investors on Tuesday,Benzinga reports. Robert W. Baird currently has an outperform rating on the stock.

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

Larimar Therapeutics Price Performance

Larimar Therapeutics stock opened at $2.38 on Tuesday. The company has a market cap of $151.54 million, a price-to-earnings ratio of -2.07 and a beta of 0.99. Larimar Therapeutics has a 12 month low of $2.19 and a 12 month high of $11.20. The stock’s 50-day moving average is $3.10 and its 200-day moving average is $5.16.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Janus Henderson Group PLC raised its position in shares of Larimar Therapeutics by 15.7% in the 4th quarter. Janus Henderson Group PLC now owns 6,443,286 shares of the company’s stock valued at $24,936,000 after purchasing an additional 876,431 shares in the last quarter. Blue Owl Capital Holdings LP raised its holdings in Larimar Therapeutics by 11.7% in the fourth quarter. Blue Owl Capital Holdings LP now owns 4,653,040 shares of the company’s stock valued at $18,007,000 after acquiring an additional 486,211 shares in the last quarter. Adage Capital Partners GP L.L.C. raised its holdings in Larimar Therapeutics by 23.5% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 2,100,000 shares of the company’s stock valued at $8,127,000 after acquiring an additional 399,123 shares in the last quarter. Alyeska Investment Group L.P. grew its holdings in Larimar Therapeutics by 38.6% during the 4th quarter. Alyeska Investment Group L.P. now owns 984,077 shares of the company’s stock worth $3,808,000 after acquiring an additional 273,920 shares in the last quarter. Finally, Renaissance Technologies LLC increased its position in shares of Larimar Therapeutics by 45.1% in the 4th quarter. Renaissance Technologies LLC now owns 513,542 shares of the company’s stock worth $1,987,000 after purchasing an additional 159,700 shares during the last quarter. Hedge funds and other 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.