Research analysts at Wedbush started coverage on shares of Larimar Therapeutics (NASDAQ:LRMR – Get Free Report) in a note issued to investors on Thursday, MarketBeat.com reports. The brokerage set an “outperform” rating and a $22.00 price target on the stock. Wedbush’s price target suggests a potential upside of 230.83% from the stock’s current price. Wedbush also issued estimates for Larimar Therapeutics’ Q3 2024 earnings at ($0.37) EPS, Q4 2024 earnings at ($0.38) EPS and FY2024 earnings at ($1.37) EPS.
A number of other equities analysts have also commented on LRMR. HC Wainwright assumed coverage on shares of Larimar Therapeutics in a report on Wednesday. They issued a “buy” rating and a $15.00 price objective on the stock. Baird R W upgraded Larimar Therapeutics to a “strong-buy” rating in a research note on Wednesday, September 4th. Finally, Robert W. Baird started coverage on Larimar Therapeutics in a research note on Wednesday, September 4th. They set an “outperform” rating and a $16.00 price objective for the company. Eight equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $19.50.
View Our Latest Stock Report on LRMR
Larimar Therapeutics Trading Up 2.0 %
Larimar Therapeutics (NASDAQ:LRMR – Get Free Report) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($0.34) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.02). On average, sell-side analysts forecast that Larimar Therapeutics will post -1.4 EPS for the current fiscal year.
Hedge Funds Weigh In On Larimar Therapeutics
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. RA Capital Management L.P. acquired a new position in Larimar Therapeutics during the 1st quarter valued at approximately $45,884,000. Janus Henderson Group PLC lifted its position in Larimar Therapeutics by 52.2% in the 1st quarter. Janus Henderson Group PLC now owns 4,020,965 shares of the company’s stock valued at $30,459,000 after purchasing an additional 1,379,900 shares during the last quarter. Vanguard Group Inc. grew its position in Larimar Therapeutics by 62.7% in the 1st quarter. Vanguard Group Inc. now owns 2,367,701 shares of the company’s stock worth $17,971,000 after purchasing an additional 912,458 shares during the last quarter. Driehaus Capital Management LLC raised its holdings in shares of Larimar Therapeutics by 20.8% during the second quarter. Driehaus Capital Management LLC now owns 1,314,106 shares of the company’s stock valued at $9,527,000 after buying an additional 225,879 shares during the last quarter. Finally, Millennium Management LLC boosted its position in shares of Larimar Therapeutics by 30.2% during the second quarter. Millennium Management LLC now owns 1,018,135 shares of the company’s stock worth $7,381,000 after buying an additional 235,865 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.
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