Larimar Therapeutics (NASDAQ:LRMR) Given Outperform Rating at William Blair

William Blair restated their outperform rating on shares of Larimar Therapeutics (NASDAQ:LRMR - Free Report) in a research note published on Tuesday,RTT News reports.

Several other analysts have also recently weighed in on LRMR. Oppenheimer initiated coverage on Larimar Therapeutics in a report on Wednesday, October 16th. They set an "outperform" rating and a $26.00 price objective for the company. Robert W. Baird initiated coverage on Larimar Therapeutics in a report on Wednesday, September 4th. They set an "outperform" rating and a $16.00 price objective for the company. HC Wainwright reissued a "buy" rating and set a $15.00 price objective on shares of Larimar Therapeutics in a report on Monday. 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, Baird R W upgraded Larimar Therapeutics to a "strong-buy" rating in a research report on Wednesday, September 4th. Ten investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $20.43.

Larimar Therapeutics Stock Up 3.6 %

LRMR traded up $0.22 during trading on Tuesday, reaching $6.38. 769,044 shares of the company's stock were exchanged, compared to its average volume of 585,497. Larimar Therapeutics has a fifty-two week low of $3.05 and a fifty-two week high of $13.68. The business has a 50 day moving average price of $7.32 and a 200 day moving average price of $7.91. The company has a market capitalization of $407.09 million, a P/E ratio of -5.55 and a beta of 0.95.

Larimar Therapeutics (NASDAQ:LRMR - Get Free Report) last issued its earnings results on Wednesday, October 30th. The company reported ($0.24) EPS for the quarter, beating the consensus estimate of ($0.37) by $0.13. During the same quarter last year, the company posted ($0.21) earnings per share. As a group, research analysts forecast that Larimar Therapeutics will post -1.16 EPS for the current year.

Hedge Funds Weigh In On Larimar Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of the business. RA Capital Management L.P. acquired a new position in Larimar Therapeutics during the 1st quarter worth approximately $45,884,000. Janus Henderson Group PLC boosted its position in Larimar Therapeutics by 27.2% during the 3rd quarter. Janus Henderson Group PLC now owns 5,566,855 shares of the company's stock worth $36,379,000 after acquiring an additional 1,189,467 shares during the last quarter. Vanguard Group Inc. boosted its position in Larimar Therapeutics by 62.7% during the 1st quarter. Vanguard Group Inc. now owns 2,367,701 shares of the company's stock worth $17,971,000 after acquiring an additional 912,458 shares during the last quarter. Driehaus Capital Management LLC boosted its position in Larimar Therapeutics by 20.8% during the 2nd quarter. Driehaus Capital Management LLC now owns 1,314,106 shares of the company's stock worth $9,527,000 after acquiring an additional 225,879 shares during the last quarter. Finally, Millennium Management LLC boosted its position in Larimar Therapeutics by 30.2% during the 2nd quarter. Millennium Management LLC now owns 1,018,135 shares of the company's stock worth $7,381,000 after acquiring an additional 235,865 shares during the last quarter. 91.92% of the stock is currently owned by institutional investors and hedge funds.

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.