Wedbush Predicts Reduced Earnings for Larimar Therapeutics

Larimar Therapeutics, Inc. (NASDAQ:LRMR - Free Report) - Equities research analysts at Wedbush lowered their FY2027 EPS estimates for shares of Larimar Therapeutics in a report released on Monday, June 23rd. Wedbush analyst L. Chico now expects that the company will post earnings per share of ($1.54) for the year, down from their prior forecast of ($1.12). Wedbush currently 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. Wedbush also issued estimates for Larimar Therapeutics' FY2028 earnings at $0.18 EPS and FY2029 earnings at $3.80 EPS.

LRMR has been the topic of several other reports. HC Wainwright raised their target price on shares of Larimar Therapeutics from $15.00 to $16.00 and gave the stock a "buy" rating in a report on Tuesday, March 25th. Robert W. Baird dropped their target price on shares of Larimar Therapeutics from $13.00 to $10.00 and set an "outperform" rating on the stock in a report on Tuesday, March 25th. Citigroup restated a "buy" rating on shares of Larimar Therapeutics in a report on Tuesday, March 25th. Finally, Guggenheim restated a "buy" rating and set a $26.00 target price on shares of Larimar Therapeutics in a report on Tuesday. Eight research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Larimar Therapeutics presently has an average rating of "Buy" and a consensus target price of $18.50.

Larimar Therapeutics Price Performance

Shares of NASDAQ:LRMR opened at $3.25 on Thursday. The company has a market capitalization of $208.10 million, a price-to-earnings ratio of -2.18 and a beta of 0.79. The firm's 50 day simple moving average is $2.37 and its 200 day simple moving average is $2.96. Larimar Therapeutics has a fifty-two week low of $1.61 and a fifty-two week high of $11.20.

Larimar Therapeutics (NASDAQ:LRMR - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The company reported ($0.46) earnings per share for the quarter, missing analysts' consensus estimates of ($0.42) by ($0.04).

Institutional Trading of Larimar Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Janus Henderson Group PLC raised its holdings in shares of Larimar Therapeutics by 15.7% in the fourth quarter. Janus Henderson Group PLC now owns 6,443,286 shares of the company's stock valued at $24,936,000 after purchasing an additional 876,431 shares during the last quarter. Blue Owl Capital Holdings LP grew its stake in shares of Larimar Therapeutics by 11.7% in the fourth quarter. Blue Owl Capital Holdings LP now owns 4,653,040 shares of the company's stock valued at $18,007,000 after buying an additional 486,211 shares in the last quarter. Adage Capital Partners GP L.L.C. grew its stake in shares of Larimar Therapeutics by 23.5% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 2,100,000 shares of the company's stock valued at $8,127,000 after buying an additional 399,123 shares in the last quarter. Alyeska Investment Group L.P. grew its stake in shares of Larimar Therapeutics by 46.6% in the first quarter. Alyeska Investment Group L.P. now owns 1,442,473 shares of the company's stock valued at $3,101,000 after buying an additional 458,396 shares in the last quarter. Finally, Renaissance Technologies LLC grew its stake in shares of Larimar Therapeutics by 45.1% in the fourth quarter. Renaissance Technologies LLC now owns 513,542 shares of the company's stock valued at $1,987,000 after buying an additional 159,700 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.

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