Larimar Therapeutics, Inc. Forecasted to Earn Q3 2024 Earnings of ($0.37) Per Share (NASDAQ:LRMR)

Larimar Therapeutics, Inc. (NASDAQ:LRMR) – Wedbush issued their Q3 2024 earnings estimates for shares of Larimar Therapeutics in a research report issued on Thursday, October 3rd. Wedbush analyst L. Chico expects that the company will post earnings per share of ($0.37) for the quarter. Wedbush currently has a “Outperform” rating and a $22.00 price target on the stock. The consensus estimate for Larimar Therapeutics’ current full-year earnings is ($1.40) per share. Wedbush also issued estimates for Larimar Therapeutics’ Q4 2024 earnings at ($0.38) EPS and FY2024 earnings at ($1.37) EPS.

LRMR has been the topic of a number of other reports. Robert W. Baird began coverage on Larimar Therapeutics in a research note on Wednesday, September 4th. They issued an “outperform” rating and a $16.00 target price on the stock. Baird R W raised shares of Larimar Therapeutics to a “strong-buy” rating in a research report on Wednesday, September 4th. Finally, HC Wainwright started coverage on shares of Larimar Therapeutics in a research note on Wednesday. They set a “buy” rating and a $15.00 price objective for the company. Eight analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $19.50.

Larimar Therapeutics Stock Up 2.0 %

LRMR stock opened at $6.65 on Friday. The business has a 50 day moving average of $7.46 and a 200 day moving average of $7.81. The firm has a market cap of $424.34 million, a PE ratio of -6.86 and a beta of 0.98. Larimar Therapeutics has a twelve month low of $2.18 and a twelve month high of $13.68.

Larimar Therapeutics (NASDAQ:LRMR) last announced its earnings results on Wednesday, August 7th. The company reported ($0.34) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.02).

Institutional Investors Weigh In On Larimar Therapeutics

Large investors have recently bought and sold shares of the business. RA Capital Management L.P. bought a new stake in Larimar Therapeutics in the 1st quarter worth approximately $45,884,000. Janus Henderson Group PLC grew its holdings in shares of Larimar Therapeutics by 52.2% in the first quarter. Janus Henderson Group PLC now owns 4,020,965 shares of the company’s stock worth $30,459,000 after acquiring an additional 1,379,900 shares during the period. Vanguard Group Inc. increased its position in Larimar Therapeutics by 62.7% during the first quarter. Vanguard Group Inc. now owns 2,367,701 shares of the company’s stock valued at $17,971,000 after acquiring an additional 912,458 shares during the last quarter. Millennium Management LLC lifted its holdings in Larimar Therapeutics by 30.2% in the second quarter. Millennium Management LLC now owns 1,018,135 shares of the company’s stock valued at $7,381,000 after acquiring an additional 235,865 shares during the period. Finally, Driehaus Capital Management LLC boosted its position in Larimar Therapeutics by 20.8% in the second quarter. Driehaus Capital Management LLC now owns 1,314,106 shares of the company’s stock worth $9,527,000 after purchasing an additional 225,879 shares during the last quarter. 91.92% of the stock is currently owned by institutional investors.

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.