HC Wainwright Forecasts Strong Price Appreciation for Larimar Therapeutics (NASDAQ:LRMR) Stock

Larimar Therapeutics (NASDAQ:LRMR) had its target price increased by HC Wainwright from $15.00 to $16.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. HC Wainwright also issued estimates for Larimar Therapeutics’ Q1 2025 earnings at ($0.43) EPS, Q2 2025 earnings at ($0.46) EPS, Q3 2025 earnings at ($0.49) EPS, Q4 2025 earnings at ($0.54) EPS and FY2027 earnings at ($1.57) EPS.

Other analysts have also issued research reports about the stock. Robert W. Baird decreased their target price on shares of Larimar Therapeutics from $13.00 to $10.00 and set an “outperform” rating on the stock in a report on Tuesday. Truist Financial started coverage on Larimar Therapeutics in a research report on Wednesday, January 29th. They issued a “buy” rating and a $18.00 price objective on the stock. Eleven 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, Larimar Therapeutics has a consensus rating of “Buy” and an average target price of $20.22.

Larimar Therapeutics Trading Down 2.6 %

Larimar Therapeutics stock opened at $2.25 on Tuesday. The firm has a 50 day simple moving average of $3.11 and a 200 day simple moving average of $5.18. Larimar Therapeutics has a 1-year low of $2.19 and a 1-year high of $11.20. The firm has a market capitalization of $143.57 million, a price-to-earnings ratio of -1.96 and a beta of 0.99.

Larimar Therapeutics (NASDAQ:LRMR) last released its quarterly earnings data on Monday, March 24th. The company reported ($0.45) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.16). On average, equities research analysts forecast that Larimar Therapeutics will post -1.15 EPS for the current year.

Hedge Funds Weigh In On Larimar Therapeutics

A number of large investors have recently added to or reduced their stakes in the business. Wellington Management Group LLP lifted its stake in shares of Larimar Therapeutics by 10.3% in the 4th quarter. Wellington Management Group LLP now owns 116,067 shares of the company’s stock valued at $449,000 after acquiring an additional 10,821 shares during the last quarter. Velan Capital Investment Management LP bought a new position in shares of Larimar Therapeutics in the fourth quarter worth approximately $70,000. Sphera Funds Management LTD. increased its stake in shares of Larimar Therapeutics by 9.9% in the fourth quarter. Sphera Funds Management LTD. now owns 455,604 shares of the company’s stock worth $1,763,000 after buying an additional 41,126 shares during the period. ProShare Advisors LLC purchased a new stake in Larimar Therapeutics during the 4th quarter valued at $58,000. Finally, Janus Henderson Group PLC boosted its position in Larimar Therapeutics by 15.7% during the 4th quarter. Janus Henderson Group PLC now owns 6,443,286 shares of the company’s stock valued at $24,936,000 after buying an additional 876,431 shares during the period. 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.