Larimar Therapeutics (NASDAQ:LRMR) Issues Quarterly Earnings Results

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

Larimar Therapeutics Trading Down 10.2 %

LRMR stock opened at $2.28 on Tuesday. The company has a market capitalization of $145.48 million, a P/E ratio of -1.98 and a beta of 0.99. The business has a 50 day simple moving average of $3.16 and a 200-day simple moving average of $5.24. Larimar Therapeutics has a twelve month low of $2.25 and a twelve month high of $11.20.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on LRMR. Robert W. Baird lowered 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. Truist Financial began coverage on Larimar Therapeutics in a research report on Wednesday, January 29th. They set a “buy” rating and a $18.00 price objective for the company. Finally, HC Wainwright raised their target price on Larimar Therapeutics from $15.00 to $16.00 and gave the stock a “buy” rating in a research report on Tuesday. Ten research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $19.50.

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.