What is HC Wainwright’s Forecast for LRMR FY2024 Earnings?

Larimar Therapeutics, Inc. (NASDAQ:LRMR) – Analysts at HC Wainwright lifted their FY2024 earnings per share estimates for Larimar Therapeutics in a research report issued to clients and investors on Wednesday, October 30th. HC Wainwright analyst E. White now expects that the company will earn ($1.16) per share for the year, up from their prior estimate 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 ($1.38) 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 released its earnings results on Wednesday, October 30th. The company reported ($0.24) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.13. During the same period in the previous year, the business posted ($0.21) earnings per share.

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

Larimar Therapeutics Price Performance

LRMR stock opened at $7.57 on Monday. Larimar Therapeutics has a 12 month low of $2.18 and a 12 month high of $13.68. The firm’s 50-day moving average is $7.33 and its 200 day moving average is $7.82. The company has a market capitalization of $483.02 million, a PE ratio of -6.58 and a beta of 0.95.

Institutional Investors Weigh In On Larimar Therapeutics

Several institutional investors have recently bought and sold shares of LRMR. Vanguard Group Inc. boosted its position in shares of Larimar Therapeutics by 62.7% in the 1st quarter. Vanguard Group Inc. now owns 2,367,701 shares of the company’s stock worth $17,971,000 after purchasing an additional 912,458 shares in the last quarter. EntryPoint Capital LLC acquired a new stake in Larimar Therapeutics in the first quarter worth about $106,000. Janus Henderson Group PLC boosted its holdings 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 acquiring an additional 1,379,900 shares in the last quarter. RA Capital Management L.P. purchased a new position in shares of Larimar Therapeutics in the first quarter worth $45,884,000. Finally, Virtu Financial LLC acquired a new stake in shares of Larimar Therapeutics during the first quarter worth $133,000. 91.92% of the stock is currently owned by institutional investors and hedge funds.

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.