Wedbush Expects Increased Earnings for Larimar Therapeutics

Larimar Therapeutics, Inc. (NASDAQ:LRMR) – Analysts at Wedbush raised their FY2028 EPS estimates for Larimar Therapeutics in a research report issued to clients and 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 forecast 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.

Several other research firms have also recently weighed in on LRMR. Guggenheim reiterated a “buy” rating and set a $26.00 price objective on shares of Larimar Therapeutics in a research report on Tuesday. HC Wainwright lifted their price objective on shares of Larimar Therapeutics from $15.00 to $16.00 and gave the stock a “buy” rating in a research note on Tuesday. Truist Financial assumed coverage on shares of Larimar Therapeutics in a research report on Wednesday, January 29th. They set a “buy” rating and a $18.00 target price on the stock. Finally, Robert W. Baird dropped their price target on shares of Larimar Therapeutics from $13.00 to $10.00 and set an “outperform” rating for the company in a research report on Tuesday. Eleven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $20.22.

Larimar Therapeutics Trading Up 1.3 %

Shares of NASDAQ LRMR opened at $2.31 on Tuesday. The business’s 50 day moving average is $3.14 and its 200-day moving average is $5.20. The firm has a market cap of $147.39 million, a P/E ratio of -2.01 and a beta of 0.99. Larimar Therapeutics has a 1-year low of $2.22 and a 1-year high of $11.20.

Larimar Therapeutics (NASDAQ:LRMR) last released its quarterly earnings results on Monday, March 24th. The company reported ($0.45) earnings per share for the quarter, missing the consensus estimate of ($0.29) by ($0.16).

Institutional Trading of Larimar Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the business. Wellington Management Group LLP raised its stake in Larimar Therapeutics by 10.3% during the fourth quarter. Wellington Management Group LLP now owns 116,067 shares of the company’s stock worth $449,000 after acquiring an additional 10,821 shares in the last quarter. Velan Capital Investment Management LP acquired a new position in Larimar Therapeutics during the 4th quarter worth approximately $70,000. Sphera Funds Management LTD. lifted its stake in Larimar Therapeutics by 9.9% in the 4th quarter. Sphera Funds Management LTD. now owns 455,604 shares of the company’s stock valued at $1,763,000 after purchasing an additional 41,126 shares during the last quarter. ProShare Advisors LLC acquired a new stake in Larimar Therapeutics in the fourth quarter valued at approximately $58,000. Finally, Janus Henderson Group PLC grew 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 worth $24,936,000 after buying an additional 876,431 shares during the last quarter. 91.92% of the stock is currently owned by institutional investors.

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.