Wedbush Has Positive Outlook for LRMR FY2028 Earnings

Larimar Therapeutics, Inc. (NASDAQ:LRMR - Free Report) - Equities researchers at Wedbush increased their FY2028 earnings estimates for Larimar Therapeutics in a research note issued to investors on Monday, March 24th. Wedbush analyst L. Chico now expects that the company will earn $0.70 per share for the year, up from their previous estimate 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.

Larimar Therapeutics (NASDAQ:LRMR - Get Free Report) last issued its quarterly earnings data on Monday, March 24th. The company reported ($0.45) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.29) by ($0.16).

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

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Larimar Therapeutics Stock Down 2.1 %

Shares of NASDAQ LRMR traded down $0.05 during trading on Tuesday, reaching $2.35. The company had a trading volume of 986,346 shares, compared to its average volume of 645,138. The stock has a market cap of $149.95 million, a PE ratio of -2.04 and a beta of 0.99. Larimar Therapeutics has a 12-month low of $2.19 and a 12-month high of $11.20. The business's 50-day moving average is $3.08 and its 200 day moving average is $5.10.

Institutional Trading of Larimar Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Janus Henderson Group PLC lifted its position in shares of Larimar Therapeutics by 27.2% during the 3rd quarter. Janus Henderson Group PLC now owns 5,566,855 shares of the company's stock valued at $36,379,000 after buying an additional 1,189,467 shares in the last quarter. Blue Owl Capital Holdings LP raised its stake in Larimar Therapeutics by 11.7% during the fourth quarter. Blue Owl Capital Holdings LP now owns 4,653,040 shares of the company's stock worth $18,007,000 after purchasing an additional 486,211 shares during the period. Adage Capital Partners GP L.L.C. grew its position in 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. increased its position 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 purchasing an additional 273,920 shares during the last quarter. Finally, Cubist Systematic Strategies LLC increased its position in shares of Larimar Therapeutics by 278.8% during the fourth 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 last quarter. 91.92% of the stock is owned by institutional investors and hedge funds.

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.