Brokers Set Expectations for Larimar Therapeutics, Inc.’s Q3 2024 Earnings (NASDAQ:LRMR)

Larimar Therapeutics, Inc. (NASDAQ:LRMR) – Analysts at Wedbush issued their Q3 2024 earnings per share (EPS) estimates for Larimar Therapeutics in a research report issued on Thursday, October 3rd. Wedbush analyst L. Chico anticipates that the company will post earnings of ($0.37) per share for the quarter. 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 ($1.40) per share. Wedbush also issued estimates for Larimar Therapeutics’ Q4 2024 earnings at ($0.38) EPS and FY2024 earnings at ($1.37) EPS.

Larimar Therapeutics (NASDAQ:LRMR) last released its quarterly earnings data on Wednesday, August 7th. The company reported ($0.34) EPS for the quarter, missing the consensus estimate of ($0.32) by ($0.02).

LRMR has been the topic of several other reports. HC Wainwright initiated coverage on Larimar Therapeutics in a research note on Wednesday. They issued a “buy” rating and a $15.00 target price on the stock. 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. Finally, Baird R W raised Larimar Therapeutics to a “strong-buy” rating in a research note on Wednesday, September 4th. Eight equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Larimar Therapeutics has a consensus rating of “Buy” and a consensus target price of $19.50.

Larimar Therapeutics Price Performance

NASDAQ LRMR opened at $6.65 on Friday. The stock has a market capitalization of $424.34 million, a PE ratio of -6.86 and a beta of 0.98. Larimar Therapeutics has a 1 year low of $2.18 and a 1 year high of $13.68. The business’s 50-day moving average is $7.52 and its 200 day moving average is $7.82.

Institutional Trading of Larimar Therapeutics

Several large investors have recently bought and sold shares of LRMR. RA Capital Management L.P. bought a new stake in Larimar Therapeutics during the 1st quarter valued at approximately $45,884,000. Janus Henderson Group PLC boosted its position in Larimar Therapeutics by 52.2% during the 1st quarter. Janus Henderson Group PLC now owns 4,020,965 shares of the company’s stock valued at $30,459,000 after acquiring an additional 1,379,900 shares in 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 valued at $17,971,000 after acquiring an additional 912,458 shares in the last quarter. 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 valued at $7,381,000 after acquiring an additional 235,865 shares in the last quarter. Finally, Driehaus Capital Management LLC lifted its holdings 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 during the last quarter. 91.92% of the stock is owned by institutional investors.

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.