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

Larimar Therapeutics, Inc. (NASDAQ:LRMR) – Equities research analysts at Wedbush issued their Q3 2024 earnings estimates for shares of Larimar Therapeutics in a note issued to investors on Thursday, October 3rd. Wedbush analyst L. Chico expects 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.

Several other equities analysts also recently commented on the stock. HC Wainwright started coverage on shares of Larimar Therapeutics in a report on Wednesday. They issued a “buy” rating and a $15.00 price objective on the stock. Baird R W raised shares of Larimar Therapeutics to a “strong-buy” rating in a report on Wednesday, September 4th. Finally, Robert W. Baird started coverage on shares of Larimar Therapeutics in a report on Wednesday, September 4th. They issued an “outperform” rating and a $16.00 price objective for the company. Eight investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $19.50.

Larimar Therapeutics Trading Up 2.0 %

NASDAQ LRMR opened at $6.65 on Friday. The firm’s fifty day moving average price is $7.52 and its two-hundred day moving average price is $7.82. Larimar Therapeutics has a 1 year low of $2.18 and a 1 year high of $13.68. The firm has a market capitalization of $424.34 million, a P/E ratio of -6.86 and a beta of 0.98.

Larimar Therapeutics (NASDAQ:LRMR) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($0.34) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.02).

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. RA Capital Management L.P. purchased a new position in shares of Larimar Therapeutics during the first quarter worth about $45,884,000. Janus Henderson Group PLC lifted its position in 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 buying an additional 1,379,900 shares during the last quarter. Vanguard Group Inc. boosted its stake in Larimar Therapeutics by 62.7% in the first quarter. Vanguard Group Inc. now owns 2,367,701 shares of the company’s stock worth $17,971,000 after buying an additional 912,458 shares in the last quarter. Millennium Management LLC grew its position in Larimar Therapeutics by 30.2% during the second 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 during the last quarter. Finally, Driehaus Capital Management LLC raised its stake 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 worth $9,527,000 after acquiring an additional 225,879 shares in 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.