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

Larimar Therapeutics, Inc. (NASDAQ:LRMR) – Analysts at HC Wainwright issued their Q3 2024 earnings per share estimates for Larimar Therapeutics in a research note issued to investors on Wednesday, October 2nd. HC Wainwright analyst E. White forecasts that the company will post earnings per share of ($0.37) for the quarter. HC Wainwright has a “Buy” rating and a $15.00 price objective 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 announced its quarterly earnings data on Wednesday, August 7th. The company reported ($0.34) EPS for the quarter, missing the consensus estimate of ($0.32) by ($0.02).

A number of other equities research analysts have also weighed in on LRMR. Robert W. Baird started coverage on shares of Larimar Therapeutics in a report on Wednesday, September 4th. They set an “outperform” rating and a $16.00 price objective on the stock. Baird R W upgraded Larimar Therapeutics to a “strong-buy” rating in a research note on Wednesday, September 4th. Finally, Wedbush assumed coverage on Larimar Therapeutics in a report on Thursday. They issued an “outperform” rating and a $22.00 price objective on the stock. Eight research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $19.50.

Larimar Therapeutics Trading Up 2.0 %

NASDAQ LRMR opened at $6.65 on Friday. The company has a fifty day simple moving average of $7.46 and a two-hundred day simple moving average of $7.81. The stock has a market cap of $424.34 million, a P/E ratio of -6.86 and a beta of 0.98. Larimar Therapeutics has a 12-month low of $2.18 and a 12-month high of $13.68.

Hedge Funds Weigh In On Larimar Therapeutics

A number of institutional investors have recently modified their holdings of the stock. RA Capital Management L.P. acquired a new position in shares of Larimar Therapeutics in the 1st quarter valued at about $45,884,000. Janus Henderson Group PLC lifted 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 valued at $30,459,000 after acquiring an additional 1,379,900 shares during the period. Vanguard Group Inc. lifted its holdings in Larimar Therapeutics by 62.7% in the first quarter. Vanguard Group Inc. now owns 2,367,701 shares of the company’s stock valued at $17,971,000 after acquiring an additional 912,458 shares during the period. Driehaus Capital Management LLC boosted its position in Larimar Therapeutics by 20.8% in the 2nd quarter. Driehaus Capital Management LLC now owns 1,314,106 shares of the company’s stock worth $9,527,000 after purchasing an additional 225,879 shares in the last quarter. Finally, Millennium Management LLC grew its stake 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 worth $7,381,000 after purchasing an additional 235,865 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.