Larimar Therapeutics (NASDAQ:LRMR) Announces Quarterly Earnings Results

Larimar Therapeutics (NASDAQ:LRMR) issued its earnings results on Wednesday. The company reported ($0.24) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.13, RTT News reports. During the same period in the prior year, the business earned ($0.21) EPS.

Larimar Therapeutics Trading Down 5.9 %

NASDAQ:LRMR opened at $7.74 on Friday. The company’s 50 day moving average is $7.34 and its two-hundred day moving average is $7.81. Larimar Therapeutics has a twelve month low of $2.18 and a twelve month high of $13.68. The company has a market cap of $493.89 million, a PE ratio of -6.73 and a beta of 0.95.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Wedbush initiated coverage on Larimar Therapeutics in a research note on Thursday, October 3rd. They set an “outperform” rating and a $22.00 price target on the stock. Oppenheimer started coverage on shares of Larimar Therapeutics in a research report on Wednesday, October 16th. They set an “outperform” rating and a $26.00 target price on the stock. Baird R W upgraded shares of Larimar Therapeutics to a “strong-buy” rating in a report on Wednesday, September 4th. HC Wainwright reiterated a “buy” rating and set a $15.00 price objective on shares of Larimar Therapeutics in a research note on Thursday. Finally, Robert W. Baird assumed coverage on Larimar Therapeutics in a report on Wednesday, September 4th. They set an “outperform” rating and a $16.00 target price for the company. Nine 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 currently has a consensus rating of “Buy” and a consensus target price 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.