Wedbush Research Analysts Raise Earnings Estimates for LRMR

Larimar Therapeutics, Inc. (NASDAQ:LRMR) – Stock analysts at Wedbush lifted their FY2028 earnings estimates for shares of Larimar Therapeutics in a research note issued to investors on Monday, March 24th. Wedbush analyst L. Chico now anticipates that the company will post earnings of $0.70 per share for the year, up from their previous estimate of $0.68. The consensus estimate for Larimar Therapeutics’ current full-year earnings is ($1.15) per share. Wedbush also issued estimates for Larimar Therapeutics’ FY2029 earnings at $4.78 EPS.

A number of other analysts also recently weighed in on LRMR. HC Wainwright lifted their price target on Larimar Therapeutics from $15.00 to $16.00 and gave the company a “buy” rating in a research note on Tuesday. Guggenheim restated a “buy” rating and set a $26.00 target price on shares of Larimar Therapeutics in a research report on Tuesday. Robert W. Baird cut their price target on shares of Larimar Therapeutics from $13.00 to $10.00 and set an “outperform” rating for the company in a report on Tuesday. Finally, Truist Financial started coverage on shares of Larimar Therapeutics in a research note on Wednesday, January 29th. They issued a “buy” rating and a $18.00 price objective for the company. Eleven equities research 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 stock presently has an average rating of “Buy” and a consensus target price of $20.22.

Larimar Therapeutics Trading Down 2.6 %

Shares of LRMR opened at $2.25 on Tuesday. The firm has a market capitalization of $143.57 million, a PE ratio of -1.96 and a beta of 0.99. The stock’s 50 day moving average is $3.11 and its two-hundred day moving average is $5.18. Larimar Therapeutics has a twelve month low of $2.19 and a twelve month high of $11.20.

Larimar Therapeutics (NASDAQ:LRMR) last issued its quarterly earnings results 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).

Hedge Funds Weigh In On Larimar Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LRMR. Wellington Management Group LLP increased its stake in shares of Larimar Therapeutics by 10.3% during the 4th quarter. Wellington Management Group LLP now owns 116,067 shares of the company’s stock worth $449,000 after purchasing an additional 10,821 shares in the last quarter. Velan Capital Investment Management LP acquired a new position in shares of Larimar Therapeutics in the fourth quarter worth $70,000. Sphera Funds Management LTD. raised its holdings 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 acquiring an additional 41,126 shares during the last quarter. ProShare Advisors LLC purchased a new stake in shares of Larimar Therapeutics in the fourth quarter valued at $58,000. Finally, Janus Henderson Group PLC boosted its stake in shares of Larimar Therapeutics by 15.7% during the fourth quarter. Janus Henderson Group PLC now owns 6,443,286 shares of the company’s stock valued at $24,936,000 after acquiring an additional 876,431 shares during the last quarter. Institutional investors and hedge funds 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.