Research Analysts Set Expectations for LRMR FY2028 Earnings

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) - Equities researchers at Wedbush dropped their FY2028 EPS estimates for shares of Larimar Therapeutics in a research note issued on Thursday, August 14th. Wedbush analyst L. Chico now forecasts that the company will post earnings per share of $0.11 for the year, down from their prior estimate of $0.18. Wedbush has a "Outperform" rating and a $15.00 price target on the stock. The consensus estimate for Larimar Therapeutics' current full-year earnings is ($1.15) per share.

Larimar Therapeutics (NASDAQ:LRMR - Get Free Report) last posted its earnings results on Wednesday, August 20th. The company reported ($0.41) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.49) by $0.08.

Several other analysts have also issued reports on the stock. Citigroup restated a "buy" rating on shares of Larimar Therapeutics in a research report on Tuesday, June 24th. JMP Securities decreased their price target 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. Finally, Guggenheim restated a "buy" rating and issued a $26.00 price target on shares of Larimar Therapeutics in a research report on Tuesday, June 24th. Nine analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $18.43.

Larimar Therapeutics Stock Down 2.5%

NASDAQ LRMR traded down $0.11 during midday trading on Friday, hitting $4.15. The company had a trading volume of 619,681 shares, compared to its average volume of 1,066,939. The stock has a market cap of $343.79 million, a price-to-earnings ratio of -2.78 and a beta of 0.93. The firm has a fifty day simple moving average of $3.26 and a two-hundred day simple moving average of $2.78. Larimar Therapeutics has a fifty-two week low of $1.61 and a fifty-two week high of $9.50.

Hedge Funds Weigh In On Larimar Therapeutics

Several institutional investors have recently added to or reduced their stakes in the company. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Larimar Therapeutics by 70.6% during the 2nd quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 307,198 shares of the company's stock valued at $888,000 after purchasing an additional 127,171 shares during the last quarter. Velan Capital Investment Management LP lifted its holdings in Larimar Therapeutics by 17.9% during the 2nd quarter. Velan Capital Investment Management LP now owns 33,000 shares of the company's stock valued at $95,000 after purchasing an additional 5,000 shares during the last quarter. Cerity Partners LLC bought a new position in Larimar Therapeutics during the 2nd quarter valued at about $636,000. XTX Topco Ltd bought a new position in Larimar Therapeutics during the 2nd quarter valued at about $484,000. Finally, American Century Companies Inc. lifted its holdings in Larimar Therapeutics by 7.8% during the 2nd quarter. American Century Companies Inc. now owns 69,285 shares of the company's stock valued at $200,000 after purchasing an additional 5,001 shares during the last quarter. 91.92% of the stock is owned by institutional investors.

Insider Activity 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 stock was purchased at an average cost of $3.20 per share, with a total value of $30,000,000.00. Following the acquisition, the director directly owned 9,538,945 shares of the company's stock, valued at approximately $30,524,624. This trade represents a 5,718.38% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 4.50% of the stock is owned by company insiders.

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.

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