Wedbush Equities Analysts Lift Earnings Estimates for LRMR

Larimar Therapeutics, Inc. (NASDAQ:LRMR) – Investment analysts at Wedbush upped their FY2028 earnings per share (EPS) estimates for shares of Larimar Therapeutics in a research note issued on Monday, March 24th. Wedbush analyst L. Chico now forecasts that the company will post earnings per share of $0.70 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.

A number of other brokerages also recently issued reports on LRMR. HC Wainwright restated a “buy” rating and set a $15.00 price objective on shares of Larimar Therapeutics in a research report on Friday, January 24th. Truist Financial initiated coverage on Larimar Therapeutics in a report on Wednesday, January 29th. They set a “buy” rating and a $18.00 price target on the stock. Ten 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 $20.13.

Larimar Therapeutics Trading Down 10.2 %

Shares of NASDAQ LRMR opened at $2.28 on Tuesday. Larimar Therapeutics has a 12-month low of $2.25 and a 12-month high of $11.20. The firm’s 50-day moving average price is $3.16 and its 200-day moving average price is $5.24. The stock has a market capitalization of $145.48 million, a price-to-earnings ratio of -1.98 and a beta of 0.99.

Larimar Therapeutics (NASDAQ:LRMR) last announced 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).

Hedge Funds Weigh In On Larimar Therapeutics

A number of hedge funds have recently added to or reduced their stakes in LRMR. Wellington Management Group LLP boosted its holdings in shares of Larimar Therapeutics by 10.3% in the fourth quarter. Wellington Management Group LLP now owns 116,067 shares of the company’s stock valued at $449,000 after purchasing an additional 10,821 shares during the period. Velan Capital Investment Management LP purchased a new stake in Larimar Therapeutics in the fourth quarter valued at approximately $70,000. Sphera Funds Management LTD. raised its holdings in shares of Larimar Therapeutics by 9.9% during the fourth quarter. Sphera Funds Management LTD. now owns 455,604 shares of the company’s stock worth $1,763,000 after purchasing an additional 41,126 shares during the last quarter. ProShare Advisors LLC purchased a new stake in Larimar Therapeutics in the fourth quarter valued at $58,000. Finally, Janus Henderson Group PLC lifted its holdings in shares of Larimar Therapeutics by 15.7% in 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. 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.