William Blair Reiterates Outperform Rating for Larimar Therapeutics (NASDAQ:LRMR)

Larimar Therapeutics (NASDAQ:LRMR)‘s stock had its “outperform” rating reissued by equities research analysts at William Blair in a research report issued to clients and investors on Tuesday,RTT News reports.

LRMR has been the subject of a number of other reports. HC Wainwright reiterated a “buy” rating and issued a $15.00 target price on shares of Larimar Therapeutics in a report on Monday. Wedbush started coverage on shares of Larimar Therapeutics in a report on Thursday, October 3rd. They set an “outperform” rating and a $22.00 price objective on the stock. Robert W. Baird started coverage on shares of Larimar Therapeutics in a report on Wednesday, September 4th. They set an “outperform” rating and a $16.00 price objective on the stock. Baird R W upgraded shares of Larimar Therapeutics to a “strong-buy” rating in a report on Wednesday, September 4th. Finally, Oppenheimer started coverage on shares of Larimar Therapeutics in a report on Wednesday, October 16th. They set an “outperform” rating and a $26.00 price objective on the stock. Ten 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 an average price target of $20.43.

Larimar Therapeutics Stock Performance

Shares of Larimar Therapeutics stock opened at $6.08 on Tuesday. The company has a market capitalization of $387.96 million, a PE ratio of -5.29 and a beta of 0.95. The company has a 50-day simple moving average of $7.29 and a two-hundred day simple moving average of $7.89. Larimar Therapeutics has a one year low of $3.05 and a one year high of $13.68.

Larimar Therapeutics (NASDAQ:LRMR) last announced its earnings results on Wednesday, October 30th. The company reported ($0.24) EPS for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.13. During the same quarter in the prior year, the company earned ($0.21) earnings per share. On average, equities analysts predict that Larimar Therapeutics will post -1.16 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Larimar Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of the business. RA Capital Management L.P. acquired a new position in Larimar Therapeutics in the 1st quarter worth approximately $45,884,000. Janus Henderson Group PLC boosted its position in Larimar Therapeutics by 27.2% in the 3rd quarter. Janus Henderson Group PLC now owns 5,566,855 shares of the company’s stock worth $36,379,000 after purchasing an additional 1,189,467 shares in the last quarter. Vanguard Group Inc. boosted its position in Larimar Therapeutics by 62.7% in the 1st quarter. Vanguard Group Inc. now owns 2,367,701 shares of the company’s stock worth $17,971,000 after purchasing an additional 912,458 shares in the last quarter. Driehaus Capital Management LLC boosted its position in Larimar Therapeutics by 20.8% in the 2nd quarter. Driehaus Capital Management LLC now owns 1,314,106 shares of the company’s stock worth $9,527,000 after purchasing an additional 225,879 shares in the last quarter. Finally, Millennium Management LLC boosted its position in Larimar Therapeutics by 30.2% in the 2nd quarter. Millennium Management LLC now owns 1,018,135 shares of the company’s stock worth $7,381,000 after purchasing an additional 235,865 shares in the last quarter. Institutional investors and hedge funds 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.