Larimar Therapeutics, Inc. (NASDAQ:LRMR) Receives $18.43 Consensus Target Price from Analysts

Key Points

• Lariamar Therapeutics, Inc. has received a consensus recommendation of "Buy" from nine brokerages, with an average twelve-month price target of $18.43.
• The company's stock is currently valued at $3.93, reflecting a 5.8% decrease, and has a market cap of $325.32 million.
• Insider activity includes a significant purchase of 9,375,000 shares by Director James E. Flynn for a total of $30 million, substantially increasing his stake in the company.

Larimar Therapeutics, Inc. (NASDAQ:LRMR - Get Free Report) has been assigned an average recommendation of "Buy" from the nine brokerages that are currently covering the company, Marketbeat reports. Nine equities research analysts have rated the stock with a buy rating. The average 12-month price target among brokers that have covered the stock in the last year is $18.4286.

Several research analysts have recently commented on the company. JMP Securities reduced their target price on Larimar Therapeutics from $22.00 to $18.00 and set a "market outperform" rating on the stock in a report on Friday, August 15th. Wedbush reduced their price objective on Larimar Therapeutics from $17.00 to $15.00 and set an "outperform" rating on the stock in a report on Tuesday, June 24th. Citigroup reaffirmed a "buy" rating on shares of Larimar Therapeutics in a report on Tuesday, June 24th. Finally, Guggenheim reaffirmed a "buy" rating and set a $26.00 price objective on shares of Larimar Therapeutics in a report on Tuesday, June 24th.

Insider Transactions at Larimar Therapeutics

In other news, Director James E. Flynn acquired 9,375,000 shares of Larimar Therapeutics stock in a transaction on Thursday, July 31st. The shares were purchased at an average price of $3.20 per share, with a total value of $30,000,000.00. Following the acquisition, the director owned 9,538,945 shares in the company, valued at $30,524,624. This represents a 5,718.38% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 4.50% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. BNP Paribas Financial Markets bought a new stake in shares of Larimar Therapeutics during the 4th quarter valued at $25,000. Savant Capital LLC bought a new stake in shares of Larimar Therapeutics during the 2nd quarter valued at $39,000. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Larimar Therapeutics during the 2nd quarter valued at $44,000. Graham Capital Management L.P. bought a new stake in shares of Larimar Therapeutics in the 4th quarter valued at $54,000. Finally, ProShare Advisors LLC bought a new stake in shares of Larimar Therapeutics in the 4th quarter valued at $58,000. Institutional investors and hedge funds own 91.92% of the company's stock.

Larimar Therapeutics Price Performance

Shares of LRMR traded up $0.20 on Friday, hitting $4.28. The company's stock had a trading volume of 859,330 shares, compared to its average volume of 1,224,310. The company has a market capitalization of $354.30 million, a PE ratio of -2.74 and a beta of 0.91. Larimar Therapeutics has a fifty-two week low of $1.61 and a fifty-two week high of $9.50. The company has a 50 day moving average price of $3.72 and a 200 day moving average price of $2.88.

Larimar Therapeutics (NASDAQ:LRMR - Get Free Report) last announced its earnings results on Thursday, August 14th. The company reported ($0.41) EPS for the quarter, topping the consensus estimate of ($0.47) by $0.06. On average, equities analysts forecast that Larimar Therapeutics will post -1.15 EPS for the current year.

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.