What is HC Wainwright’s Forecast for LRMR FY2024 Earnings?

Larimar Therapeutics, Inc. (NASDAQ:LRMR) – Research analysts at HC Wainwright upped their FY2024 earnings estimates for Larimar Therapeutics in a note issued to investors on Wednesday, October 30th. HC Wainwright analyst E. White now forecasts that the company will post earnings of ($1.16) per share for the year, up from their prior estimate of ($1.40). HC Wainwright currently has a “Buy” rating and a $15.00 price objective on the stock. The consensus estimate for Larimar Therapeutics’ current full-year earnings is ($1.38) per share. HC Wainwright also issued estimates for Larimar Therapeutics’ Q4 2024 earnings at ($0.30) EPS, FY2025 earnings at ($1.57) EPS and FY2026 earnings at ($1.77) EPS.

Several other analysts have also recently weighed in on the company. Baird R W raised Larimar Therapeutics to a “strong-buy” rating in a report on Wednesday, September 4th. Wedbush began coverage on shares of Larimar Therapeutics in a research note on Thursday, October 3rd. They set an “outperform” rating and a $22.00 price target for the company. Robert W. Baird started coverage on shares of Larimar Therapeutics in a research note on Wednesday, September 4th. They issued an “outperform” rating and a $16.00 price objective on the stock. Finally, Oppenheimer began coverage on shares of Larimar Therapeutics in a report on Wednesday, October 16th. They set an “outperform” rating and a $26.00 target price for the company. Nine equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $20.43.

Larimar Therapeutics Stock Down 6.0 %

LRMR stock opened at $7.74 on Monday. The business has a fifty day moving average of $7.34 and a 200-day moving average of $7.82. The company has a market cap of $493.87 million, a P/E ratio of -6.73 and a beta of 0.95. Larimar Therapeutics has a twelve month low of $2.18 and a twelve month high of $13.68.

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

Institutional Investors Weigh In On Larimar Therapeutics

Several large investors have recently bought and sold shares of LRMR. Vanguard Group Inc. boosted its position in shares of Larimar Therapeutics by 62.7% during the first quarter. Vanguard Group Inc. now owns 2,367,701 shares of the company’s stock worth $17,971,000 after purchasing an additional 912,458 shares in the last quarter. Janus Henderson Group PLC raised its position in shares of Larimar Therapeutics by 52.2% during the first quarter. Janus Henderson Group PLC now owns 4,020,965 shares of the company’s stock worth $30,459,000 after purchasing an additional 1,379,900 shares during the period. Driehaus Capital Management LLC lifted its holdings in shares of 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 purchasing an additional 225,879 shares in the last quarter. Point72 Asset Management L.P. grew its position in shares of Larimar Therapeutics by 37.7% in the 2nd quarter. Point72 Asset Management L.P. now owns 603,581 shares of the company’s stock valued at $4,376,000 after purchasing an additional 165,181 shares during the period. Finally, Millennium Management LLC increased its stake 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 purchasing an additional 235,865 shares in the last quarter. 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.