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

William Blair reissued their outperform rating on shares of Larimar Therapeutics (NASDAQ:LRMR) in a report released on Tuesday,RTT News reports.

Other analysts also recently issued reports about the company. Oppenheimer started coverage on Larimar Therapeutics in a report 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 report on Wednesday, September 4th. Robert W. Baird assumed coverage on Larimar Therapeutics in a report on Wednesday, September 4th. They issued an “outperform” rating and a $16.00 price target on the stock. Wedbush assumed coverage on Larimar Therapeutics in a report on Thursday, October 3rd. They set 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 research report on Monday, November 18th. Ten research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $20.43.

Larimar Therapeutics Stock Up 0.5 %

NASDAQ LRMR opened at $6.16 on Tuesday. The company has a market capitalization of $393.07 million, a price-to-earnings ratio of -5.36 and a beta of 0.95. Larimar Therapeutics has a twelve month low of $3.19 and a twelve month high of $13.68. The stock has a fifty day simple moving average of $7.25 and a 200 day simple moving average of $7.87.

Larimar Therapeutics (NASDAQ:LRMR) last issued its quarterly earnings results on Wednesday, October 30th. The company reported ($0.24) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.13. During the same period last year, the company earned ($0.21) EPS. Research analysts expect 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 have recently modified their holdings of LRMR. Virtu Financial LLC purchased a new stake in shares of Larimar Therapeutics during the third quarter valued at approximately $71,000. Barclays PLC grew its stake in Larimar Therapeutics by 321.2% in the 3rd quarter. Barclays PLC now owns 60,032 shares of the company’s stock valued at $393,000 after purchasing an additional 45,781 shares during the period. XTX Topco Ltd purchased a new stake in shares of Larimar Therapeutics during the 3rd quarter valued at $100,000. Jane Street Group LLC raised its stake in shares of Larimar Therapeutics by 80.1% during the 3rd quarter. Jane Street Group LLC now owns 113,783 shares of the company’s stock worth $745,000 after purchasing an additional 50,622 shares during the period. Finally, Wellington Management Group LLP raised its stake in shares of Larimar Therapeutics by 152.5% during the 3rd quarter. Wellington Management Group LLP now owns 105,246 shares of the company’s stock worth $689,000 after purchasing an additional 63,563 shares during the period. Institutional investors 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.