Robert W. Baird Has Lowered Expectations for Larimar Therapeutics (NASDAQ:LRMR) Stock Price

Larimar Therapeutics (NASDAQ:LRMR) had its price objective trimmed by Robert W. Baird from $13.00 to $10.00 in a research note released on Tuesday morning,Benzinga reports. The brokerage currently has an outperform rating on the stock.

LRMR has been the topic of a number of other reports. Truist Financial began coverage on Larimar Therapeutics in a research report on Wednesday, January 29th. They set a “buy” rating and a $18.00 price target on the stock. 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 investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus 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 PE 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 company has a fifty day moving average price of $3.10 and a two-hundred day moving average price of $5.16.

Larimar Therapeutics (NASDAQ:LRMR) last announced 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). Equities research analysts anticipate that Larimar Therapeutics will post -1.15 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Wellington Management Group LLP grew its position in Larimar Therapeutics by 10.3% in the 4th quarter. Wellington Management Group LLP now owns 116,067 shares of the company’s stock valued at $449,000 after buying an additional 10,821 shares in the last quarter. Velan Capital Investment Management LP bought a new position in shares of Larimar Therapeutics in the fourth quarter valued at approximately $70,000. Sphera Funds Management LTD. increased its stake in shares of Larimar Therapeutics by 9.9% during the fourth quarter. Sphera Funds Management LTD. now owns 455,604 shares of the company’s stock valued at $1,763,000 after acquiring an additional 41,126 shares during the period. ProShare Advisors LLC bought a new stake in Larimar Therapeutics during the fourth quarter worth approximately $58,000. Finally, Janus Henderson Group PLC lifted its position in Larimar Therapeutics by 15.7% in the fourth quarter. Janus Henderson Group PLC now owns 6,443,286 shares of the company’s stock worth $24,936,000 after purchasing an additional 876,431 shares during the period. 91.92% of the stock is owned by institutional investors and hedge funds.

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.