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

Larimar Therapeutics (NASDAQ:LRMR) posted its quarterly earnings results on Monday. The company reported ($0.45) earnings per share 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 firm has a market capitalization 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. The business’s 50 day moving average is $3.16 and its 200-day moving average is $5.24.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Truist Financial initiated coverage on shares of Larimar Therapeutics in a research report on Wednesday, January 29th. They set a “buy” rating and a $18.00 price objective on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $15.00 price objective on shares of Larimar Therapeutics in a research note on Friday, January 24th. Ten research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $20.13.

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.