William Blair Has Strong Estimate for LRMR FY2024 Earnings

Larimar Therapeutics, Inc. (NASDAQ:LRMR) – Equities research analysts at William Blair lifted their FY2024 EPS estimates for Larimar Therapeutics in a research report issued to clients and investors on Wednesday, October 30th. William Blair analyst M. Minter now expects that the company will earn ($1.15) per share for the year, up from their previous estimate of ($1.48). The consensus estimate for Larimar Therapeutics’ current full-year earnings is ($1.20) per share. William Blair also issued estimates for Larimar Therapeutics’ Q4 2024 earnings at ($0.29) EPS, Q1 2025 earnings at ($0.32) EPS, Q2 2025 earnings at ($0.35) EPS, Q3 2025 earnings at ($0.38) EPS, Q4 2025 earnings at ($0.42) EPS, FY2025 earnings at ($1.48) EPS, FY2026 earnings at ($1.73) EPS, FY2027 earnings at ($1.74) EPS and FY2028 earnings at ($0.11) EPS.

Larimar Therapeutics (NASDAQ:LRMR) last released its earnings results on Wednesday, October 30th. The company reported ($0.24) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.13. During the same period last year, the business posted ($0.21) earnings per share.

A number of other equities research analysts have also weighed in on LRMR. Robert W. Baird began coverage on Larimar Therapeutics in a report on Wednesday, September 4th. They issued an “outperform” rating and a $16.00 price objective on the stock. Oppenheimer initiated coverage on Larimar Therapeutics in a report on Wednesday, October 16th. They set an “outperform” rating and a $26.00 price objective on the stock. Baird R W raised Larimar Therapeutics to a “strong-buy” rating in a report on Wednesday, September 4th. Wedbush initiated coverage on shares of Larimar Therapeutics in a research note on Thursday, October 3rd. They set an “outperform” rating and a $22.00 price target on the stock. Finally, HC Wainwright reiterated a “buy” rating and issued a $15.00 price target on shares of Larimar Therapeutics in a report on Thursday, October 31st. Nine investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $20.43.

Larimar Therapeutics Stock Down 2.8 %

Shares of NASDAQ:LRMR opened at $7.36 on Monday. Larimar Therapeutics has a fifty-two week low of $2.18 and a fifty-two week high of $13.68. The firm’s 50-day simple moving average is $7.33 and its 200-day simple moving average is $7.82. The company has a market cap of $469.64 million, a price-to-earnings ratio of -6.40 and a beta of 0.95.

Hedge Funds Weigh In On Larimar Therapeutics

A number of institutional investors have recently made changes to their positions in LRMR. Quarry LP boosted its stake in shares of Larimar Therapeutics by 966.7% during the second quarter. Quarry LP now owns 8,000 shares of the company’s stock valued at $58,000 after acquiring an additional 7,250 shares during the last quarter. Thoroughbred Financial Services LLC purchased a new position in Larimar Therapeutics in the 2nd quarter valued at about $94,000. SG Americas Securities LLC acquired a new stake in shares of Larimar Therapeutics during the 3rd quarter worth about $94,000. EntryPoint Capital LLC acquired a new stake in shares of Larimar Therapeutics during the 1st quarter worth about $106,000. Finally, AQR Capital Management LLC purchased a new stake in shares of Larimar Therapeutics during the second quarter worth about $113,000. 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.