Larimar Therapeutics (NASDAQ:LRMR) Price Target Raised to $16.00

Larimar Therapeutics (NASDAQ:LRMR) had its price objective hoisted by HC Wainwright from $15.00 to $16.00 in a research note published on Tuesday,Benzinga reports. The brokerage currently has a buy rating on the stock. HC Wainwright also issued estimates for Larimar Therapeutics’ Q1 2025 earnings at ($0.43) EPS, Q2 2025 earnings at ($0.46) EPS, Q3 2025 earnings at ($0.49) EPS, Q4 2025 earnings at ($0.54) EPS, FY2025 earnings at ($1.91) EPS, FY2026 earnings at ($2.10) EPS and FY2027 earnings at ($1.57) EPS.

LRMR has been the subject of a number of other reports. Truist Financial started coverage on Larimar Therapeutics in a research note on Wednesday, January 29th. They issued a “buy” rating and a $18.00 target price for the company. Robert W. Baird dropped their price objective 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. Eleven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $20.22.

Larimar Therapeutics Price Performance

LRMR stock opened at $2.38 on Tuesday. Larimar Therapeutics has a 52-week low of $2.19 and a 52-week high of $11.20. The stock has a market capitalization of $151.54 million, a price-to-earnings ratio of -2.07 and a beta of 0.99. The company has a 50-day moving average of $3.10 and a two-hundred day moving average of $5.16.

Larimar Therapeutics (NASDAQ:LRMR) last announced its earnings results on Monday, March 24th. The company reported ($0.45) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.16). Equities analysts expect that Larimar Therapeutics will post -1.15 EPS for the current fiscal year.

Institutional Trading of Larimar Therapeutics

Several hedge funds have recently modified their holdings of LRMR. BNP Paribas Financial Markets acquired a new position in Larimar Therapeutics in the fourth quarter worth $25,000. Algert Global LLC bought a new position in shares of Larimar Therapeutics in the fourth quarter valued at about $47,000. China Universal Asset Management Co. Ltd. acquired a new position in Larimar Therapeutics during the 4th quarter worth about $52,000. Graham Capital Management L.P. bought a new stake in Larimar Therapeutics during the 4th quarter worth about $54,000. Finally, ProShare Advisors LLC acquired a new stake in Larimar Therapeutics in the 4th quarter valued at about $58,000. Institutional investors and hedge funds own 91.92% of the company’s stock.

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.