Research Analysts Issue Forecasts for Larimar Therapeutics, Inc.’s Q3 2024 Earnings (NASDAQ:LRMR)

Larimar Therapeutics, Inc. (NASDAQ:LRMR) – Equities research analysts at HC Wainwright issued their Q3 2024 earnings estimates for shares of Larimar Therapeutics in a report issued on Wednesday, October 2nd. HC Wainwright analyst E. White anticipates that the company will earn ($0.37) per share for the quarter. HC Wainwright has a “Buy” rating and a $15.00 price target on the stock. The consensus estimate for Larimar Therapeutics’ current full-year earnings is ($1.40) per share. HC Wainwright also issued estimates for Larimar Therapeutics’ Q4 2024 earnings at ($0.41) EPS, FY2024 earnings at ($1.40) EPS, FY2025 earnings at ($1.94) EPS and FY2026 earnings at ($2.15) EPS.

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

Several other research analysts also recently weighed in on LRMR. Robert W. Baird initiated coverage on shares of Larimar Therapeutics in a report on Wednesday, September 4th. They issued an “outperform” rating and a $16.00 target price for the company. Baird R W raised shares of Larimar Therapeutics to a “strong-buy” rating in a report on Wednesday, September 4th. Finally, Wedbush began coverage on shares of Larimar Therapeutics in a report on Thursday. They set an “outperform” rating and a $22.00 price objective for the company. Eight equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $19.50.

Larimar Therapeutics Stock Performance

Shares of Larimar Therapeutics stock opened at $6.65 on Friday. The company has a market capitalization of $424.34 million, a P/E ratio of -6.86 and a beta of 0.98. The company has a fifty day moving average of $7.52 and a 200 day moving average of $7.82. Larimar Therapeutics has a fifty-two week low of $2.18 and a fifty-two week high of $13.68.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. RA Capital Management L.P. purchased a new stake in shares of Larimar Therapeutics during the 1st quarter valued at about $45,884,000. Janus Henderson Group PLC raised its position in shares of 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 buying an additional 1,379,900 shares in the last quarter. Vanguard Group Inc. raised its position in shares of 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 buying an additional 912,458 shares in the last quarter. Millennium Management LLC raised its position in shares of 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 buying an additional 235,865 shares in the last quarter. Finally, Driehaus Capital Management LLC raised its position 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 buying an additional 225,879 shares in the last quarter. Institutional investors own 91.92% of the company’s stock.

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.