Larimar Therapeutics (NASDAQ:LRMR) Issues Earnings Results, Misses Expectations By $0.16 EPS

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

Larimar Therapeutics Trading Up 1.3 %

NASDAQ:LRMR opened at $2.31 on Wednesday. The firm has a fifty day simple moving average of $3.14 and a two-hundred day simple moving average of $5.20. Larimar Therapeutics has a 12 month low of $2.22 and a 12 month high of $11.20. The stock has a market capitalization of $147.39 million, a price-to-earnings ratio of -2.01 and a beta of 0.99.

Analyst Ratings Changes

Several research firms recently issued reports on LRMR. Truist Financial began coverage on shares of Larimar Therapeutics in a research report on Wednesday, January 29th. They set a “buy” rating and a $18.00 price target on the stock. Robert W. Baird lowered their price target on Larimar Therapeutics from $13.00 to $10.00 and set an “outperform” rating for the company in a report on Tuesday. HC Wainwright raised their price objective on Larimar Therapeutics from $15.00 to $16.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, Guggenheim reiterated a “buy” rating and issued a $26.00 target price on shares of Larimar Therapeutics in a research report on Tuesday. Eleven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $20.22.

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.