Larimar Therapeutics’ (LRMR) Outperform Rating Reiterated at William Blair

William Blair reaffirmed their outperform rating on shares of Larimar Therapeutics (NASDAQ:LRMR) in a research note issued to investors on Tuesday morning,RTT News reports.

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

Larimar Therapeutics Price Performance

Shares of NASDAQ LRMR opened at $6.38 on Tuesday. Larimar Therapeutics has a 1 year low of $3.05 and a 1 year high of $13.68. The company has a market capitalization of $407.09 million, a price-to-earnings ratio of -5.55 and a beta of 0.95. The business has a 50-day moving average of $7.32 and a two-hundred day moving average of $7.91.

Larimar Therapeutics (NASDAQ:LRMR) last announced its quarterly earnings results on Wednesday, October 30th. The company reported ($0.24) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.13. During the same period last year, the company earned ($0.21) earnings per share. As a group, equities research analysts expect that Larimar Therapeutics will post -1.16 earnings per share for the current year.

Institutional Investors Weigh In On Larimar Therapeutics

Large investors have recently modified their holdings of the stock. Quarry LP increased its stake in Larimar Therapeutics by 966.7% in the 2nd quarter. Quarry LP now owns 8,000 shares of the company’s stock valued at $58,000 after buying an additional 7,250 shares during the period. Quest Partners LLC increased its stake in shares of Larimar Therapeutics by 171.1% during the third quarter. Quest Partners LLC now owns 9,183 shares of the company’s stock worth $60,000 after acquiring an additional 5,796 shares during the period. Intech Investment Management LLC purchased a new position in Larimar Therapeutics during the third quarter worth about $85,000. Thoroughbred Financial Services LLC acquired a new stake in Larimar Therapeutics in the second quarter valued at about $94,000. Finally, SG Americas Securities LLC purchased a new stake in Larimar Therapeutics in the 3rd quarter valued at approximately $94,000. Hedge funds and other institutional investors own 91.92% of the company’s stock.

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.