William Blair Equities Analysts Decrease Earnings Estimates for Larimar Therapeutics, Inc. (NASDAQ:LRMR)

Larimar Therapeutics, Inc. (NASDAQ:LRMR) – Research analysts at William Blair cut their Q3 2024 earnings per share (EPS) estimates for shares of Larimar Therapeutics in a research report issued to clients and investors on Wednesday, August 7th. William Blair analyst M. Minter now anticipates that the company will post earnings per share of ($0.39) for the quarter, down from their prior estimate of ($0.35). The consensus estimate for Larimar Therapeutics’ current full-year earnings is ($1.40) per share. William Blair also issued estimates for Larimar Therapeutics’ Q4 2024 earnings at ($0.46) EPS, FY2024 earnings at ($1.48) EPS, Q1 2025 earnings at ($0.51) EPS, Q2 2025 earnings at ($0.56) EPS, Q3 2025 earnings at ($0.58) EPS, Q4 2025 earnings at ($0.61) EPS and FY2025 earnings at ($2.26) EPS.

Larimar Therapeutics (NASDAQ:LRMR) last issued 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).

Other equities research analysts have also issued reports about the company. JMP Securities restated a “market outperform” rating and set a $25.00 price objective on shares of Larimar Therapeutics in a research report on Friday, May 31st. Citigroup raised their price objective on Larimar Therapeutics from $10.00 to $14.00 and gave the stock a “buy” rating in a research report on Wednesday, May 22nd. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $21.33.

Larimar Therapeutics Trading Down 0.7 %

Shares of NASDAQ LRMR opened at $7.57 on Monday. Larimar Therapeutics has a one year low of $2.18 and a one year high of $13.68. The firm has a market capitalization of $483.04 million, a PE ratio of -7.80 and a beta of 1.01. The business has a 50-day moving average price of $8.59 and a two-hundred day moving average price of $8.37.

Institutional Investors Weigh In On Larimar Therapeutics

Several large investors have recently made changes to their positions in the company. Thoroughbred Financial Services LLC bought a new stake in shares of Larimar Therapeutics in the 2nd quarter valued at approximately $94,000. Ballentine Partners LLC bought a new stake in shares of Larimar Therapeutics in the 2nd quarter valued at approximately $137,000. Rhumbline Advisers boosted its position in Larimar Therapeutics by 74.6% during the second quarter. Rhumbline Advisers now owns 54,936 shares of the company’s stock worth $398,000 after purchasing an additional 23,475 shares during the period. Bank of New York Mellon Corp boosted its position in Larimar Therapeutics by 57.2% during the second quarter. Bank of New York Mellon Corp now owns 134,877 shares of the company’s stock worth $978,000 after purchasing an additional 49,102 shares during the period. Finally, Virtu Financial LLC bought a new stake in Larimar Therapeutics during the first quarter worth approximately $133,000. Institutional investors 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.