Larimar Therapeutics (NASDAQ:LRMR) Announces Quarterly Earnings Results

Larimar Therapeutics (NASDAQ:LRMR) posted its earnings results on Wednesday. The company reported ($0.24) EPS for the quarter, topping the consensus estimate of ($0.37) by $0.13, RTT News reports. During the same quarter last year, the company earned ($0.21) EPS.

Larimar Therapeutics Stock Performance

NASDAQ LRMR traded down $0.12 on Thursday, hitting $8.34. The stock had a trading volume of 247,613 shares, compared to its average volume of 565,978. The firm has a 50-day moving average of $7.33 and a 200-day moving average of $7.80. Larimar Therapeutics has a 52-week low of $2.18 and a 52-week high of $13.68. The company has a market capitalization of $532.15 million, a price-to-earnings ratio of -7.55 and a beta of 0.98.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Oppenheimer initiated coverage on shares of Larimar Therapeutics in a report on Wednesday, October 16th. They set an “outperform” rating and a $26.00 price target for the company. Robert W. Baird started coverage on Larimar Therapeutics in a report on Wednesday, September 4th. They set an “outperform” rating and a $16.00 price target for the company. Wedbush began coverage on Larimar Therapeutics in a research note on Thursday, October 3rd. They issued an “outperform” rating and a $22.00 price objective on the stock. Baird R W upgraded Larimar Therapeutics to a “strong-buy” rating in a report on Wednesday, September 4th. Finally, HC Wainwright reiterated a “buy” rating and set a $15.00 target price on shares of Larimar Therapeutics in a research report on Thursday. Nine analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Larimar Therapeutics presently has an average rating of “Buy” and a consensus price target of $20.43.

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.