FY2028 EPS Estimates for Larimar Therapeutics Cut by Wedbush

Key Points

• Wedbush analysts have lowered their FY2028 EPS estimate for Larimar Therapeutics to $0.11, down from $0.18, while maintaining an "Outperform" rating and a price target of $15.00.
• Larimar Therapeutics reported earnings of ($0.41) per share for the latest quarter, outperforming analyst expectations of ($0.49).
• Director James E. Flynn significantly increased his stake by purchasing 9.375 million shares at an average of $3.20 per share, reflecting a substantial boost to his overall ownership in the company.

Larimar Therapeutics, Inc. (NASDAQ:LRMR - Free Report) - Wedbush lowered their FY2028 earnings estimates for shares of Larimar Therapeutics in a report issued on Thursday, August 14th. Wedbush analyst L. Chico now anticipates that the company will earn $0.11 per share for the year, down from their prior forecast of $0.18. Wedbush has a "Outperform" rating and a $15.00 price objective on the stock. The consensus estimate for Larimar Therapeutics' current full-year earnings is ($1.15) per share.

A number of other research firms also recently issued reports on LRMR. Citigroup restated a "buy" rating on shares of Larimar Therapeutics in a research report on Tuesday, June 24th. Guggenheim restated a "buy" rating and set a $26.00 target price on shares of Larimar Therapeutics in a research report on Tuesday, June 24th. Finally, JMP Securities cut their target price on shares of Larimar Therapeutics from $22.00 to $18.00 and set a "market outperform" rating on the stock in a research report on Friday, August 15th. One analyst has rated the stock with a Strong Buy rating and nine have issued a Buy rating to the company's stock. According to MarketBeat, Larimar Therapeutics has a consensus rating of "Buy" and an average price target of $18.43.

Larimar Therapeutics Stock Up 3.3%

NASDAQ:LRMR traded up $0.12 during mid-day trading on Friday, reaching $3.77. 1,610,257 shares of the company were exchanged, compared to its average volume of 1,082,358. Larimar Therapeutics has a 12 month low of $1.61 and a 12 month high of $9.50. The company has a fifty day moving average of $3.33 and a 200 day moving average of $2.78. The stock has a market cap of $312.07 million, a PE ratio of -2.42 and a beta of 0.93.

Larimar Therapeutics (NASDAQ:LRMR - Get Free Report) last issued its quarterly earnings data on Thursday, August 14th. The company reported ($0.41) EPS for the quarter, topping analysts' consensus estimates of ($0.47) by $0.06.

Insider Buying and Selling at Larimar Therapeutics

In other news, Director James E. Flynn purchased 9,375,000 shares of the business's stock in a transaction that occurred on Thursday, July 31st. The shares were acquired at an average cost of $3.20 per share, for a total transaction of $30,000,000.00. Following the transaction, the director directly owned 9,538,945 shares of the company's stock, valued at approximately $30,524,624. The trade was a 5,718.38% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. 4.50% of the stock is owned by corporate insiders.

Institutional Trading of Larimar Therapeutics

Several hedge funds have recently bought and sold shares of the stock. Janus Henderson Group PLC raised its holdings in Larimar Therapeutics by 15.7% during the 4th quarter. Janus Henderson Group PLC now owns 6,443,286 shares of the company's stock worth $24,936,000 after buying an additional 876,431 shares during the period. Blue Owl Capital Holdings LP raised its holdings in Larimar Therapeutics by 11.7% during the 4th quarter. Blue Owl Capital Holdings LP now owns 4,653,040 shares of the company's stock worth $18,007,000 after buying an additional 486,211 shares during the period. Opaleye Management Inc. raised its holdings in Larimar Therapeutics by 114.7% during the 2nd quarter. Opaleye Management Inc. now owns 4,110,000 shares of the company's stock worth $11,878,000 after buying an additional 2,195,923 shares during the period. Adage Capital Partners GP L.L.C. raised its holdings in Larimar Therapeutics by 23.5% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 2,100,000 shares of the company's stock worth $8,127,000 after buying an additional 399,123 shares during the period. Finally, Alyeska Investment Group L.P. raised its holdings in Larimar Therapeutics by 46.6% during the 1st quarter. Alyeska Investment Group L.P. now owns 1,442,473 shares of the company's stock worth $3,101,000 after buying an additional 458,396 shares during the period. 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.