FY2024 Earnings Forecast for LRMR Issued By Leerink Partnrs

Larimar Therapeutics, Inc. (NASDAQ:LRMR) – Leerink Partnrs raised their FY2024 earnings estimates for shares of Larimar Therapeutics in a research report issued to clients and investors on Wednesday, October 30th. Leerink Partnrs analyst J. Park now forecasts that the company will earn ($1.17) per share for the year, up from their prior estimate of ($1.51). The consensus estimate for Larimar Therapeutics’ current full-year earnings is ($1.38) per share. Leerink Partnrs also issued estimates for Larimar Therapeutics’ Q4 2024 earnings at ($0.31) EPS, Q1 2025 earnings at ($0.36) EPS, Q2 2025 earnings at ($0.42) EPS, Q3 2025 earnings at ($0.49) EPS, Q4 2025 earnings at ($0.57) EPS, FY2025 earnings at ($1.85) EPS, FY2026 earnings at ($2.84) EPS and FY2027 earnings at ($2.41) EPS.

A number of other equities research analysts also recently weighed in on LRMR. Oppenheimer started coverage on Larimar Therapeutics in a report on Wednesday, October 16th. They issued an “outperform” rating and a $26.00 target price for the company. HC Wainwright reissued a “buy” rating and set a $15.00 target price on shares of Larimar Therapeutics in a research note on Thursday, October 31st. Wedbush assumed coverage on shares of Larimar Therapeutics in a research note on Thursday, October 3rd. They issued an “outperform” rating and a $22.00 price target for the company. Baird R W upgraded shares of Larimar Therapeutics to a “strong-buy” rating in a report on Wednesday, September 4th. Finally, Robert W. Baird assumed coverage on Larimar Therapeutics in a research note on Wednesday, September 4th. They issued an “outperform” rating and a $16.00 target price for the company. Nine research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Larimar Therapeutics presently has an average rating of “Buy” and a consensus target price of $20.43.

Larimar Therapeutics Trading Down 2.2 %

LRMR stock opened at $7.57 on Monday. Larimar Therapeutics has a 1-year low of $2.18 and a 1-year high of $13.68. The stock has a 50-day moving average price of $7.33 and a 200-day moving average price of $7.82. The firm has a market cap of $483.02 million, a PE ratio of -6.58 and a beta of 0.95.

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in LRMR. RA Capital Management L.P. acquired a new position in Larimar Therapeutics during the 1st quarter valued at about $45,884,000. Janus Henderson Group PLC grew its stake in shares of Larimar Therapeutics by 52.2% in the 1st quarter. Janus Henderson Group PLC now owns 4,020,965 shares of the company’s stock worth $30,459,000 after acquiring an additional 1,379,900 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of 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. Driehaus Capital Management LLC lifted its position in shares of Larimar Therapeutics by 20.8% during the second 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. Finally, Millennium Management LLC boosted its holdings in Larimar Therapeutics by 30.2% during the second 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 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.