Wedbush Expects Lower Earnings for Larimar Therapeutics

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

Other research analysts also recently issued reports about the stock. Robert W. Baird decreased their target price on shares of Larimar Therapeutics from $13.00 to $10.00 and set an "outperform" rating for the company in a research note on Tuesday, March 25th. HC Wainwright upped their price target on shares of Larimar Therapeutics from $15.00 to $16.00 and gave the company a "buy" rating in a report on Tuesday, March 25th. Citigroup reaffirmed a "buy" rating on shares of Larimar Therapeutics in a report on Tuesday, June 24th. Finally, Guggenheim reaffirmed a "buy" rating and issued a $26.00 price target on shares of Larimar Therapeutics in a report on Tuesday, June 24th. Eight analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $18.50.

Larimar Therapeutics Trading Down 1.6%

LRMR traded down $0.05 during trading on Thursday, hitting $3.03. 1,913,731 shares of the company's stock were exchanged, compared to its average volume of 836,795. The firm has a market cap of $194.01 million, a P/E ratio of -2.03 and a beta of 0.79. The stock has a 50 day moving average price of $2.41 and a 200 day moving average price of $2.86. 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 released its quarterly earnings data on Wednesday, April 30th. The company reported ($0.46) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.42) by ($0.04).

Institutional Trading of Larimar Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of LRMR. Monimus Capital Management LP acquired a new stake in shares of Larimar Therapeutics during the fourth quarter worth $182,000. Fi3 FINANCIAL ADVISORS LLC raised its holdings in shares of Larimar Therapeutics by 16.7% during the fourth quarter. Fi3 FINANCIAL ADVISORS LLC now owns 23,798 shares of the company's stock worth $92,000 after purchasing an additional 3,411 shares during the period. American Century Companies Inc. raised its holdings in shares of Larimar Therapeutics by 32.8% during the fourth quarter. American Century Companies Inc. now owns 56,294 shares of the company's stock worth $218,000 after purchasing an additional 13,891 shares during the period. AXQ Capital LP acquired a new stake in shares of Larimar Therapeutics during the fourth quarter worth $91,000. Finally, EntryPoint Capital LLC raised its holdings in shares of Larimar Therapeutics by 197.7% during the fourth quarter. EntryPoint Capital LLC now owns 54,281 shares of the company's stock worth $210,000 after purchasing an additional 36,045 shares during the period. 91.92% of the stock is 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.