Larimar Therapeutics (NASDAQ:LRMR) Releases Earnings Results

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

Larimar Therapeutics Price Performance

NASDAQ LRMR traded up $0.14 during trading on Thursday, reaching $8.60. The company’s stock had a trading volume of 181,504 shares, compared to its average volume of 565,664. The firm has a fifty day moving average of $7.33 and a 200 day moving average of $7.80. Larimar Therapeutics has a one year low of $2.18 and a one year high of $13.68. The stock has a market capitalization of $548.74 million, a PE ratio of -7.55 and a beta of 0.98.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Baird R W raised Larimar Therapeutics to a “strong-buy” rating in a research note on Wednesday, September 4th. Wedbush assumed coverage on shares of Larimar Therapeutics in a research note on Thursday, October 3rd. They issued an “outperform” rating and a $22.00 price target on the stock. HC Wainwright reaffirmed a “buy” rating and set a $15.00 price target on shares of Larimar Therapeutics in a report on Thursday. Oppenheimer initiated coverage on shares of Larimar Therapeutics in a research note on Wednesday, October 16th. They issued an “outperform” rating and a $26.00 price objective for the company. Finally, Robert W. Baird started coverage on shares of Larimar Therapeutics in a research note on Wednesday, September 4th. They set an “outperform” rating and a $16.00 target price on the stock. Nine 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 presently has an average rating of “Buy” and a consensus price target of $20.43.

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.