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

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

Several other research analysts have also recently issued reports on LRMR. Robert W. Baird initiated coverage on shares of Larimar Therapeutics in a report on Wednesday, September 4th. They issued an “outperform” rating and a $16.00 price objective for the company. Oppenheimer began coverage on Larimar Therapeutics in a research note on Wednesday, October 16th. They set an “outperform” rating and a $26.00 price target for the company. Baird R W raised Larimar Therapeutics to a “strong-buy” rating in a research note on Wednesday, September 4th. Wedbush assumed coverage on Larimar Therapeutics in a report on Thursday, October 3rd. They issued an “outperform” rating and a $22.00 price objective for the company. Finally, HC Wainwright reaffirmed a “buy” rating and set a $15.00 target price on shares of Larimar Therapeutics in a report on Monday. Ten analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Larimar Therapeutics presently has an average rating of “Buy” and an average price target of $20.43.

Larimar Therapeutics Trading Up 1.0 %

LRMR traded up $0.06 during trading hours on Tuesday, hitting $6.22. The company’s stock had a trading volume of 202,719 shares, compared to its average volume of 582,969. The company has a 50-day simple moving average of $7.35 and a 200 day simple moving average of $7.92. The firm has a market capitalization of $396.90 million, a PE ratio of -5.40 and a beta of 0.95. Larimar Therapeutics has a fifty-two week low of $3.05 and a fifty-two week high of $13.68.

Larimar Therapeutics (NASDAQ:LRMR) last issued its quarterly earnings data on Wednesday, October 30th. The company reported ($0.24) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.13. During the same quarter in the prior year, the firm earned ($0.21) EPS. Research analysts expect that Larimar Therapeutics will post -1.16 earnings per share for the current fiscal year.

Institutional Trading of Larimar Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of LRMR. Vanguard Group Inc. boosted its holdings in shares of Larimar Therapeutics by 62.7% in the first quarter. Vanguard Group Inc. now owns 2,367,701 shares of the company’s stock worth $17,971,000 after buying an additional 912,458 shares during the period. EntryPoint Capital LLC acquired a new position in Larimar Therapeutics in the 1st quarter worth approximately $106,000. Janus Henderson Group PLC grew its position in Larimar Therapeutics by 52.2% during the 1st quarter. Janus Henderson Group PLC now owns 4,020,965 shares of the company’s stock worth $30,459,000 after purchasing an additional 1,379,900 shares in the last quarter. RA Capital Management L.P. purchased a new position in Larimar Therapeutics during the 1st quarter worth approximately $45,884,000. Finally, Virtu Financial LLC acquired a new stake in Larimar Therapeutics during the 1st quarter valued at $133,000. 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.