Wedbush Cuts Larimar Therapeutics (NASDAQ:LRMR) Price Target to $15.00

by · The Cerbat Gem

Larimar Therapeutics (NASDAQ:LRMR – Free Report) had its price objective trimmed by Wedbush from $17.00 to $15.00 in a research note published on Tuesday morning,Benzinga reports. The firm currently has an outperform rating on the stock. Wedbush also issued estimates for Larimar Therapeutics’ FY2027 earnings at ($1.54) EPS, FY2028 earnings at $0.18 EPS and FY2029 earnings at $3.80 EPS.

Several other brokerages have also recently weighed in on LRMR. Guggenheim reaffirmed a “buy” rating and issued a $26.00 price target on shares of Larimar Therapeutics in a research note on Tuesday. HC Wainwright boosted their price objective on shares of Larimar Therapeutics from $15.00 to $16.00 and gave the stock a “buy” rating in a research note on Tuesday, March 25th. 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. Finally, Citigroup reiterated a “buy” rating on shares of Larimar Therapeutics in a report on Tuesday, March 25th. Eight research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $18.50.

Check Out Our Latest Analysis on LRMR

Larimar Therapeutics Trading Down 5.2%

Shares of LRMR opened at $3.08 on Tuesday. Larimar Therapeutics has a 1-year low of $1.61 and a 1-year high of $11.20. The firm’s 50-day moving average price is $2.39 and its 200-day moving average price is $2.94. The firm has a market capitalization of $197.21 million, a price-to-earnings ratio of -2.07 and a beta of 0.79.

Larimar Therapeutics (NASDAQ:LRMR – Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The company reported ($0.46) earnings per share for the quarter, missing the consensus estimate of ($0.42) by ($0.04). On average, research analysts forecast that Larimar Therapeutics will post -1.15 EPS for the current fiscal year.

Hedge Funds Weigh In On Larimar Therapeutics

Hedge funds have recently bought and sold shares of the company. Janus Henderson Group PLC increased its stake in Larimar Therapeutics by 15.7% during the 4th 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 in the last quarter. Blue Owl Capital Holdings LP lifted 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 worth $18,007,000 after buying an additional 486,211 shares in the last quarter. Alyeska Investment Group L.P. grew its holdings in shares of Larimar Therapeutics by 46.6% during 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 during the last quarter. Adage Capital Partners GP L.L.C. increased its position in shares of Larimar Therapeutics by 23.5% during 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 acquiring an additional 399,123 shares in the last quarter. Finally, Nuveen LLC bought a new stake in shares of Larimar Therapeutics during the first quarter valued at approximately $376,000. Institutional investors own 91.92% of the company’s stock.

About Larimar Therapeutics

(Get Free Report)

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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