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

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

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

Larimar Therapeutics Stock Up 0.8 %

LRMR opened at $6.13 on Tuesday. The firm’s fifty day moving average price is $7.27 and its two-hundred day moving average price is $7.88. Larimar Therapeutics has a 1 year low of $3.09 and a 1 year high of $13.68.

Larimar Therapeutics (NASDAQ:LRMR) last announced its quarterly earnings data 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 in the prior year, the company posted ($0.21) earnings per share. Sell-side analysts predict that Larimar Therapeutics will post -1.16 EPS for the current fiscal year.

Institutional Investors Weigh In On Larimar Therapeutics

Institutional investors have recently bought and sold shares 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 worth $58,000 after purchasing an additional 7,250 shares during the period. Quest Partners LLC grew its stake in shares of Larimar Therapeutics by 171.1% in the third quarter. Quest Partners LLC now owns 9,183 shares of the company’s stock worth $60,000 after purchasing an additional 5,796 shares during the last quarter. Virtu Financial LLC purchased a new stake in Larimar Therapeutics in the 3rd quarter worth approximately $71,000. Intech Investment Management LLC bought a new stake in shares of Larimar Therapeutics in the 3rd quarter worth approximately $85,000. Finally, Thoroughbred Financial Services LLC purchased a new position in shares of Larimar Therapeutics during the second quarter valued at approximately $94,000. 91.92% of the stock is currently owned by hedge funds and other 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.