Larimar Therapeutics (NASDAQ:LRMR) Releases Quarterly Earnings Results, Misses Estimates By $0.16 EPS

Larimar Therapeutics (NASDAQ:LRMR) issued its quarterly earnings results on Monday. The company reported ($0.45) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.16), Zacks reports.

Larimar Therapeutics Trading Down 10.2 %

Larimar Therapeutics stock opened at $2.28 on Tuesday. The stock’s fifty day simple moving average is $3.16 and its 200-day simple moving average is $5.24. The firm has a market capitalization of $145.48 million, a P/E ratio of -1.98 and a beta of 0.99. Larimar Therapeutics has a twelve month low of $2.25 and a twelve month high of $11.20.

Analysts Set New Price Targets

LRMR has been the topic of several research analyst reports. Truist Financial assumed coverage on shares of Larimar Therapeutics in a research report on Wednesday, January 29th. They issued a “buy” rating and a $18.00 target price on the stock. HC Wainwright reaffirmed a “buy” rating and set a $15.00 target price on shares of Larimar Therapeutics in a research note on Friday, January 24th. Ten analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Larimar Therapeutics currently has an average rating of “Buy” and a consensus price target of $20.13.

Larimar Therapeutics Company Profile

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.