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

Larimar Therapeutics (NASDAQ:LRMR) announced its 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 %

Shares of NASDAQ LRMR opened at $2.28 on Tuesday. The company has a fifty day moving average price of $3.16 and a 200 day moving average price of $5.24. The firm has a market cap of $145.48 million, a PE ratio of -1.98 and a beta of 0.99. Larimar Therapeutics has a 1-year low of $2.25 and a 1-year high of $11.20.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Truist Financial started coverage on shares of Larimar Therapeutics in a research note on Wednesday, January 29th. They issued a “buy” rating and a $18.00 target price for the company. HC Wainwright reiterated a “buy” rating and issued a $15.00 price target on shares of Larimar Therapeutics in a research report on Friday, January 24th. Ten investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average 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.