Research Analysts Offer Predictions for LRMR FY2024 Earnings

Larimar Therapeutics, Inc. (NASDAQ:LRMR) – HC Wainwright boosted their FY2024 earnings estimates for shares of Larimar Therapeutics in a research 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 forecast of ($1.40). HC Wainwright currently has a “Buy” rating and a $15.00 target price on the stock. The consensus estimate for Larimar Therapeutics’ current full-year earnings is ($1.20) 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.

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

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

Larimar Therapeutics Trading Down 2.8 %

Shares of LRMR opened at $7.36 on Monday. Larimar Therapeutics has a twelve month low of $2.18 and a twelve month high of $13.68. The company’s fifty day simple moving average is $7.33 and its 200-day simple moving average is $7.82. The company has a market cap of $469.64 million, a P/E ratio of -6.40 and a beta of 0.95.

Institutional Trading of Larimar Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings 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 in the last quarter. EntryPoint Capital LLC bought a new position in shares of Larimar Therapeutics during the first quarter valued at approximately $106,000. Janus Henderson Group PLC raised its stake in 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 in the last quarter. RA Capital Management L.P. purchased a new stake in Larimar Therapeutics during the first quarter worth $45,884,000. Finally, Virtu Financial LLC bought a new stake in Larimar Therapeutics during the first quarter valued at about $133,000. 91.92% of the stock is currently 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.