Wedbush Cuts Larimar Therapeutics (NASDAQ:LRMR) Price Target to $15.00

Larimar Therapeutics (NASDAQ:LRMR - Free Report) had its price objective trimmed by Wedbush from $17.00 to $15.00 in a research report released on Tuesday morning,Benzinga reports. The firm currently has an outperform rating on the stock. Wedbush also issued estimates for Larimar Therapeutics' FY2027 earnings at ($1.54) EPS, FY2028 earnings at $0.18 EPS and FY2029 earnings at $3.80 EPS.

A number of other research analysts have also commented on LRMR. Guggenheim reiterated a "buy" rating and set a $26.00 price target on shares of Larimar Therapeutics in a report on Tuesday. HC Wainwright upped their price target on Larimar Therapeutics from $15.00 to $16.00 and gave the stock a "buy" rating in a research report on Tuesday, March 25th. Robert W. Baird decreased their price objective on Larimar Therapeutics from $13.00 to $10.00 and set an "outperform" rating for the company in a report on Tuesday, March 25th. Finally, Citigroup reaffirmed a "buy" rating on shares of Larimar Therapeutics in a report on Tuesday, March 25th. Eight research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $18.50.

Larimar Therapeutics Stock Down 2.1%

Shares of Larimar Therapeutics stock traded down $0.07 during trading on Tuesday, hitting $3.02. The stock had a trading volume of 515,917 shares, compared to its average volume of 844,126. The company has a market capitalization of $193.05 million, a PE ratio of -2.02 and a beta of 0.79. The stock has a 50 day simple moving average of $2.39 and a 200 day simple moving average of $2.94. Larimar Therapeutics has a 1 year low of $1.61 and a 1 year high of $11.20.

Larimar Therapeutics (NASDAQ:LRMR - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The company reported ($0.46) EPS for the quarter, missing the consensus estimate of ($0.42) by ($0.04). As a group, equities analysts expect that Larimar Therapeutics will post -1.15 earnings per share for the current fiscal year.

Institutional Trading of Larimar Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Fi3 FINANCIAL ADVISORS LLC lifted its stake in shares of Larimar Therapeutics by 16.7% in the fourth quarter. Fi3 FINANCIAL ADVISORS LLC now owns 23,798 shares of the company's stock valued at $92,000 after buying an additional 3,411 shares in the last quarter. Envestnet Asset Management Inc. lifted its position in Larimar Therapeutics by 12.3% in the 4th quarter. Envestnet Asset Management Inc. now owns 35,525 shares of the company's stock valued at $137,000 after acquiring an additional 3,877 shares in the last quarter. Bank of America Corp DE lifted its position in Larimar Therapeutics by 8.1% in the 4th quarter. Bank of America Corp DE now owns 53,190 shares of the company's stock valued at $206,000 after acquiring an additional 3,980 shares in the last quarter. BNP Paribas Financial Markets acquired a new position in Larimar Therapeutics during the 4th quarter valued at about $25,000. Finally, Wells Fargo & Company MN increased its holdings in Larimar Therapeutics by 51.7% during the 4th quarter. Wells Fargo & Company MN now owns 19,657 shares of the company's stock worth $76,000 after purchasing an additional 6,701 shares in the last quarter. Institutional investors own 91.92% of the company's stock.

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.