What is HC Wainwright's Estimate for LRMR FY2024 Earnings?

Larimar Therapeutics, Inc. (NASDAQ:LRMR - Free Report) - Equities researchers at HC Wainwright raised their FY2024 earnings per share (EPS) estimates for shares of Larimar Therapeutics in a research report issued on Wednesday, October 30th. HC Wainwright analyst E. White now expects that the company will post earnings of ($1.16) per share for the year, up from their prior forecast of ($1.40). HC Wainwright has a "Buy" rating and a $15.00 price target on the stock. The consensus estimate for Larimar Therapeutics' current full-year earnings is ($1.38) per share. HC Wainwright also issued estimates for Larimar Therapeutics' Q4 2024 earnings at ($0.30) EPS, FY2025 earnings at ($1.57) EPS and FY2026 earnings at ($1.77) EPS.

Several other equities analysts have also recently issued reports on the company. Oppenheimer started coverage on Larimar Therapeutics in a research note on Wednesday, October 16th. They set an "outperform" rating and a $26.00 target price on the stock. Robert W. Baird started coverage on Larimar Therapeutics in a research note on Wednesday, September 4th. They set an "outperform" rating and a $16.00 target price on the stock. Baird R W upgraded Larimar Therapeutics to a "strong-buy" rating in a research report on Wednesday, September 4th. Finally, Wedbush started coverage on Larimar Therapeutics in a research report on Thursday, October 3rd. They set an "outperform" rating and a $22.00 price target on the stock. Nine analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $20.43.

Larimar Therapeutics Stock Down 2.2 %

Shares of LRMR traded down $0.17 during mid-day trading on Monday, hitting $7.57. 836,910 shares of the company's stock traded hands, compared to its average volume of 567,970. Larimar Therapeutics has a 1 year low of $2.18 and a 1 year high of $13.68. The firm has a market capitalization of $483.02 million, a P/E ratio of -6.73 and a beta of 0.95. The business's 50-day moving average price is $7.34 and its 200-day moving average price is $7.82.

Larimar Therapeutics (NASDAQ:LRMR - Get Free Report) last posted its earnings results on Wednesday, October 30th. The company reported ($0.24) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.37) by $0.13. During the same period in the previous year, the firm earned ($0.21) EPS.

Institutional Investors Weigh In On Larimar Therapeutics

Hedge funds have recently added to or reduced their stakes in the stock. Quarry LP boosted its holdings in Larimar Therapeutics by 966.7% in the second quarter. Quarry LP now owns 8,000 shares of the company's stock worth $58,000 after acquiring an additional 7,250 shares in the last quarter. Thoroughbred Financial Services LLC bought a new position in shares of Larimar Therapeutics during the second quarter valued at $94,000. SG Americas Securities LLC bought a new position in shares of Larimar Therapeutics during the third quarter valued at $94,000. EntryPoint Capital LLC bought a new position in shares of Larimar Therapeutics during the first quarter valued at $106,000. Finally, AQR Capital Management LLC bought a new position in shares of Larimar Therapeutics during the second quarter valued at $113,000. 91.92% of the stock is owned by institutional investors.

About Larimar Therapeutics

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.