Wedbush Boosts Earnings Estimates for Larimar Therapeutics

Larimar Therapeutics, Inc. (NASDAQ:LRMR) – Analysts at Wedbush lifted 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 anticipates that the company will post earnings of $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) last announced its quarterly earnings data on Monday, March 24th. The company reported ($0.45) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.16).

LRMR has been the subject of a number of other research reports. HC Wainwright reiterated a “buy” rating and set a $15.00 price target on shares of Larimar Therapeutics in a research note on Friday, January 24th. Truist Financial started coverage on Larimar Therapeutics in a research note on Wednesday, January 29th. They set a “buy” rating and a $18.00 price target for the company. Ten analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $20.13.

Larimar Therapeutics Stock Down 10.2 %

Shares of LRMR opened at $2.28 on Tuesday. The stock has a 50 day moving average price of $3.16 and a 200 day moving average price of $5.24. Larimar Therapeutics has a 52-week low of $2.25 and a 52-week high of $11.20. The company has a market capitalization of $145.48 million, a price-to-earnings ratio of -1.98 and a beta of 0.99.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Fi3 FINANCIAL ADVISORS LLC raised its holdings in Larimar Therapeutics by 16.7% during the fourth quarter. Fi3 FINANCIAL ADVISORS LLC now owns 23,798 shares of the company’s stock worth $92,000 after purchasing an additional 3,411 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Larimar Therapeutics by 18.7% in the third quarter. JPMorgan Chase & Co. now owns 21,771 shares of the company’s stock valued at $143,000 after buying an additional 3,425 shares in the last quarter. Franklin Resources Inc. raised its stake in shares of Larimar Therapeutics by 21.9% during the 3rd quarter. Franklin Resources Inc. now owns 19,723 shares of the company’s stock worth $143,000 after buying an additional 3,549 shares during the last quarter. Envestnet Asset Management Inc. boosted its position in shares of Larimar Therapeutics by 12.3% in the 4th quarter. Envestnet Asset Management Inc. now owns 35,525 shares of the company’s stock worth $137,000 after buying an additional 3,877 shares in the last quarter. Finally, Bank of America Corp DE boosted its position in shares of Larimar Therapeutics by 8.1% in the 4th quarter. Bank of America Corp DE now owns 53,190 shares of the company’s stock worth $206,000 after buying an additional 3,980 shares in the last quarter. 91.92% of the stock is currently owned by institutional investors and hedge funds.

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.