Brokers Offer Predictions for Larimar Therapeutics, Inc.'s Q1 2024 Earnings (NASDAQ:LRMR)

Larimar Therapeutics, Inc. (NASDAQ:LRMR - Free Report) - Analysts at Leerink Partnrs issued their Q1 2024 earnings per share estimates for shares of Larimar Therapeutics in a research report issued on Wednesday, April 3rd. Leerink Partnrs analyst J. Park anticipates that the company will post earnings per share of ($0.25) for the quarter. Leerink Partnrs has a "Outperform" rating on the stock. The consensus estimate for Larimar Therapeutics' current full-year earnings is ($1.17) per share. Leerink Partnrs also issued estimates for Larimar Therapeutics' Q2 2024 earnings at ($0.30) EPS, Q3 2024 earnings at ($0.35) EPS, Q4 2024 earnings at ($0.40) EPS, FY2024 earnings at ($1.30) EPS, Q1 2025 earnings at ($0.47) EPS, Q2 2025 earnings at ($0.50) EPS, Q3 2025 earnings at ($0.64) EPS, Q4 2025 earnings at ($0.74) EPS and FY2025 earnings at ($2.40) EPS.

Several other analysts have also recently commented on the company. Citigroup raised their target price on Larimar Therapeutics from $4.50 to $10.00 and gave the company a "buy" rating in a research report on Tuesday, February 13th. Lifesci Capital reiterated an "outperform" rating on shares of Larimar Therapeutics in a research report on Tuesday, February 20th. JMP Securities reiterated a "market outperform" rating and set a $25.00 price target on shares of Larimar Therapeutics in a research report on Friday, March 15th. Finally, SVB Leerink started coverage on Larimar Therapeutics in a research report on Wednesday. They set an "outperform" rating and a $25.00 price target on the stock. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $18.50.

Larimar Therapeutics Trading Up 2.3 %

LRMR traded up $0.17 during trading hours on Friday, hitting $7.44. The company's stock had a trading volume of 238,048 shares, compared to its average volume of 601,648. Larimar Therapeutics has a fifty-two week low of $2.18 and a fifty-two week high of $13.68. The firm has a market capitalization of $474.67 million, a PE ratio of -8.75 and a beta of 0.93. The company has a 50-day simple moving average of $9.02 and a 200 day simple moving average of $5.56.

Larimar Therapeutics (NASDAQ:LRMR - Get Free Report) last posted its earnings results on Thursday, March 14th. The company reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.25) by ($0.05).

Institutional Investors Weigh In On Larimar Therapeutics

Several large investors have recently modified their holdings of the stock. Nuveen Asset Management LLC boosted its stake in shares of Larimar Therapeutics by 8.0% during the 4th quarter. Nuveen Asset Management LLC now owns 38,492 shares of the company's stock worth $175,000 after acquiring an additional 2,837 shares in the last quarter. SG Americas Securities LLC boosted its position in shares of Larimar Therapeutics by 27.3% in the fourth quarter. SG Americas Securities LLC now owns 14,159 shares of the company's stock worth $64,000 after buying an additional 3,039 shares during the period. Boothbay Fund Management LLC boosted its position in shares of Larimar Therapeutics by 20.8% in the first quarter. Boothbay Fund Management LLC now owns 23,468 shares of the company's stock worth $106,000 after buying an additional 4,047 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Larimar Therapeutics by 18.1% in the third quarter. Dimensional Fund Advisors LP now owns 29,212 shares of the company's stock worth $93,000 after buying an additional 4,474 shares during the period. Finally, Golden State Equity Partners boosted its position in shares of Larimar Therapeutics by 21.6% in the first quarter. Golden State Equity Partners now owns 30,415 shares of the company's stock worth $123,000 after buying an additional 5,400 shares during the period. 91.92% of the stock is owned by institutional investors.

Insider Transactions at Larimar Therapeutics

In related news, Director James E. Flynn acquired 4,290,617 shares of Larimar Therapeutics stock in a transaction dated Friday, February 16th. The stock was acquired at an average cost of $8.74 per share, with a total value of $37,499,992.58. Following the purchase, the director now directly owns 6,151,406 shares in the company, valued at approximately $53,763,288.44. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 4.30% of the company's stock.

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.