HC Wainwright Boosts Larimar Therapeutics (NASDAQ:LRMR) Price Target to $16.00

Larimar Therapeutics (NASDAQ:LRMR - Get Free Report) had its target price upped by research analysts at HC Wainwright from $15.00 to $16.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently 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, FY2025 earnings at ($1.91) EPS, FY2026 earnings at ($2.10) EPS and FY2027 earnings at ($1.57) EPS.

A number of other brokerages have also issued reports on LRMR. Robert W. Baird reduced their target price on Larimar Therapeutics from $13.00 to $10.00 and set an "outperform" rating for the company in a research note on Tuesday. Truist Financial began coverage on Larimar Therapeutics in a report on Wednesday, January 29th. They issued a "buy" rating and a $18.00 price objective on the stock. Eleven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $20.22.

Larimar Therapeutics Price Performance

Larimar Therapeutics stock traded down $0.05 during trading hours on Tuesday, reaching $2.35. The stock had a trading volume of 986,346 shares, compared to its average volume of 645,138. The company has a market cap of $149.95 million, a price-to-earnings ratio of -2.04 and a beta of 0.99. Larimar Therapeutics has a 52 week low of $2.19 and a 52 week high of $11.20. The business's 50 day moving average price is $3.08 and its 200-day moving average price is $5.10.

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Larimar Therapeutics (NASDAQ:LRMR - Get Free Report) last released its 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). On average, sell-side analysts forecast that Larimar Therapeutics will post -1.15 EPS for the current fiscal year.

Institutional Investors Weigh In On Larimar Therapeutics

Several hedge funds have recently bought and sold shares of LRMR. Janus Henderson Group PLC lifted its stake in shares of Larimar Therapeutics by 27.2% in the 3rd quarter. Janus Henderson Group PLC now owns 5,566,855 shares of the company's stock valued at $36,379,000 after purchasing an additional 1,189,467 shares during the period. Blue Owl Capital Holdings LP increased its holdings in Larimar Therapeutics by 11.7% in the fourth quarter. Blue Owl Capital Holdings LP now owns 4,653,040 shares of the company's stock valued at $18,007,000 after buying an additional 486,211 shares in the last quarter. Adage Capital Partners GP L.L.C. raised its position in shares of Larimar Therapeutics by 23.5% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 2,100,000 shares of the company's stock worth $8,127,000 after acquiring an additional 399,123 shares during the period. Alyeska Investment Group L.P. boosted its stake in shares of Larimar Therapeutics by 38.6% during the 4th quarter. Alyeska Investment Group L.P. now owns 984,077 shares of the company's stock worth $3,808,000 after acquiring an additional 273,920 shares in the last quarter. Finally, Cubist Systematic Strategies LLC grew its position in shares of Larimar Therapeutics by 278.8% during the 4th quarter. Cubist Systematic Strategies LLC now owns 233,873 shares of the company's stock valued at $905,000 after acquiring an additional 172,131 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.