Wedbush Forecasts Higher Earnings for Larimar Therapeutics

Larimar Therapeutics, Inc. (NASDAQ:LRMR) – Investment analysts at Wedbush boosted their FY2024 earnings per share (EPS) estimates for Larimar Therapeutics in a report released on Wednesday, October 30th. Wedbush analyst L. Chico now anticipates that the company will post earnings per share of ($1.16) for the year, up from their prior forecast of ($1.37). Wedbush currently has a “Outperform” rating and a $22.00 target price on the stock. The consensus estimate for Larimar Therapeutics’ current full-year earnings is ($1.38) per share. Wedbush also issued estimates for Larimar Therapeutics’ Q4 2024 earnings at ($0.30) EPS, Q1 2025 earnings at ($0.25) EPS, Q2 2025 earnings at ($0.28) EPS, Q3 2025 earnings at ($0.29) EPS, Q4 2025 earnings at ($0.33) EPS and FY2025 earnings at ($1.15) EPS.

Other analysts have also recently issued reports about the stock. Robert W. Baird began coverage on shares of Larimar Therapeutics in a research note on Wednesday, September 4th. They issued an “outperform” rating and a $16.00 target price on the stock. Baird R W upgraded Larimar Therapeutics to a “strong-buy” rating in a research report on Wednesday, September 4th. HC Wainwright restated a “buy” rating and set a $15.00 target price on shares of Larimar Therapeutics in a research report on Thursday. Finally, Oppenheimer began coverage on Larimar Therapeutics in a research note on Wednesday, October 16th. They issued an “outperform” rating and a $26.00 target price on the stock. Nine 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.com, the company currently has an average rating of “Buy” and a consensus target price of $20.43.

Larimar Therapeutics Trading Down 6.0 %

Shares of Larimar Therapeutics stock opened at $7.74 on Monday. The company’s 50-day moving average price is $7.34 and its 200-day moving average price is $7.82. The company has a market cap of $493.87 million, a price-to-earnings ratio of -6.73 and a beta of 0.95. Larimar Therapeutics has a 12-month low of $2.18 and a 12-month high of $13.68.

Larimar Therapeutics (NASDAQ:LRMR) last issued its earnings results on Wednesday, October 30th. The company reported ($0.24) EPS for the quarter, topping the consensus estimate of ($0.37) by $0.13. During the same period in the prior year, the company posted ($0.21) earnings per share.

Hedge Funds Weigh In On Larimar Therapeutics

A number of large investors have recently added to or reduced their stakes in LRMR. Vanguard Group Inc. lifted its position in Larimar Therapeutics by 62.7% in the first quarter. Vanguard Group Inc. now owns 2,367,701 shares of the company’s stock valued at $17,971,000 after purchasing an additional 912,458 shares during the last quarter. Janus Henderson Group PLC increased its stake in shares of Larimar Therapeutics by 52.2% in the first quarter. Janus Henderson Group PLC now owns 4,020,965 shares of the company’s stock worth $30,459,000 after buying an additional 1,379,900 shares during the period. Driehaus Capital Management LLC raised its holdings 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 valued at $9,527,000 after buying an additional 225,879 shares during the last quarter. Point72 Asset Management L.P. boosted its position in Larimar Therapeutics by 37.7% during the 2nd quarter. Point72 Asset Management L.P. now owns 603,581 shares of the company’s stock valued at $4,376,000 after buying an additional 165,181 shares during the period. Finally, Millennium Management LLC grew its holdings in Larimar Therapeutics by 30.2% in 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. 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.