Larimar Therapeutics (NASDAQ:LRMR) Given New $14.00 Price Target at Citigroup

Larimar Therapeutics (NASDAQ:LRMR - Get Free Report) had its price objective increased by research analysts at Citigroup from $10.00 to $14.00 in a research note issued on Wednesday, Benzinga reports. The firm presently has a "buy" rating on the stock. Citigroup's target price indicates a potential upside of 77.22% from the stock's current price.

Several other equities analysts have also recently issued reports on LRMR. Lifesci Capital restated an "outperform" rating on shares of Larimar Therapeutics in a research note on Tuesday, February 20th. JMP Securities restated a "market outperform" rating and set a $25.00 price objective on shares of Larimar Therapeutics in a research note on Tuesday. SVB Leerink started coverage on Larimar Therapeutics in a research note on Wednesday, April 3rd. They set an "outperform" rating and a $25.00 price objective on the stock. Finally, Leerink Partnrs restated an "outperform" rating on shares of Larimar Therapeutics in a research note on Wednesday, April 3rd. Six research analysts have rated the stock with a buy rating, According to MarketBeat, Larimar Therapeutics currently has a consensus rating of "Buy" and a consensus price target of $21.33.

Larimar Therapeutics Stock Up 0.1 %

Shares of Larimar Therapeutics stock traded up $0.01 on Wednesday, hitting $7.90. 1,554,799 shares of the company's stock traded hands, compared to its average volume of 545,034. The stock has a market cap of $504.02 million, a P/E ratio of -8.14 and a beta of 0.96. The firm's 50-day moving average is $7.47 and its 200 day moving average is $6.45. Larimar Therapeutics has a 52-week low of $2.18 and a 52-week high of $13.68.

Larimar Therapeutics (NASDAQ:LRMR - Get Free Report) last released its earnings results on Thursday, May 9th. The company reported ($0.27) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.03). Equities research analysts forecast that Larimar Therapeutics will post -1.29 EPS for the current year.

Institutional Investors Weigh In On Larimar Therapeutics

A number of hedge funds have recently added to or reduced their stakes in the stock. RA Capital Management L.P. acquired a new position in shares of Larimar Therapeutics during the first quarter valued at $45,884,000. Janus Henderson Group PLC increased its holdings in shares of Larimar Therapeutics by 52.2% during the first quarter. Janus Henderson Group PLC now owns 4,020,965 shares of the company's stock valued at $30,459,000 after purchasing an additional 1,379,900 shares during the period. Vanguard Group Inc. increased its holdings in shares of Larimar Therapeutics by 62.7% during the first quarter. Vanguard Group Inc. now owns 2,367,701 shares of the company's stock valued at $17,971,000 after purchasing an additional 912,458 shares during the period. Adage Capital Partners GP L.L.C. increased its holdings in shares of Larimar Therapeutics by 80.6% during the third quarter. Adage Capital Partners GP L.L.C. now owns 1,176,680 shares of the company's stock valued at $4,648,000 after purchasing an additional 525,000 shares during the period. Finally, Assenagon Asset Management S.A. acquired a new position in shares of Larimar Therapeutics during the first quarter valued at $4,829,000. 91.92% of the stock is currently owned by institutional investors.

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.