Wedbush Boosts Earnings Estimates for Larimar Therapeutics

Larimar Therapeutics, Inc. (NASDAQ:LRMR) – Equities researchers at Wedbush upped their FY2028 earnings estimates for shares of Larimar Therapeutics in a research report issued to clients and investors 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 prior 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.

Larimar Therapeutics (NASDAQ:LRMR) last issued its quarterly earnings results on Monday, March 24th. The company reported ($0.45) EPS for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.16).

Other equities analysts have also issued reports about the company. Guggenheim reaffirmed a “buy” rating and issued a $26.00 price objective on shares of Larimar Therapeutics in a research note on Tuesday. HC Wainwright upped their price objective on shares of Larimar Therapeutics from $15.00 to $16.00 and gave the company a “buy” rating in a research note on Tuesday. Robert W. Baird decreased their price objective on shares of Larimar Therapeutics from $13.00 to $10.00 and set an “outperform” rating for the company in a research report on Tuesday. Finally, Truist Financial started coverage on shares of Larimar Therapeutics in a report on Wednesday, January 29th. They issued a “buy” rating and a $18.00 target price on the stock. Eleven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $20.22.

Larimar Therapeutics Trading Up 1.3 %

Shares of LRMR opened at $2.31 on Tuesday. The stock’s 50-day moving average price is $3.14 and its two-hundred day moving average price is $5.20. Larimar Therapeutics has a 12 month low of $2.22 and a 12 month high of $11.20. The company has a market capitalization of $147.39 million, a PE ratio of -2.01 and a beta of 0.99.

Institutional Trading of Larimar Therapeutics

Several large investors have recently made changes to their positions in LRMR. BNP Paribas Financial Markets bought a new position in Larimar Therapeutics in the fourth quarter worth approximately $25,000. Quest Partners LLC lifted its holdings in shares of Larimar Therapeutics by 171.1% in the 3rd quarter. Quest Partners LLC now owns 9,183 shares of the company’s stock worth $60,000 after purchasing an additional 5,796 shares in the last quarter. Virtu Financial LLC acquired a new stake in Larimar Therapeutics in the 3rd quarter valued at $71,000. Quarry LP increased its stake in Larimar Therapeutics by 50.0% during the 3rd quarter. Quarry LP now owns 12,000 shares of the company’s stock valued at $79,000 after purchasing an additional 4,000 shares in the last quarter. Finally, Algert Global LLC acquired a new position in Larimar Therapeutics during the fourth quarter worth $47,000. 91.92% of the stock is currently 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.