Larimar Therapeutics (NASDAQ:LRMR) Posts Quarterly Earnings Results

Larimar Therapeutics (NASDAQ:LRMR) posted its quarterly earnings data 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 quarter in the prior year, the firm earned ($0.21) earnings per share.

Larimar Therapeutics Stock Down 3.2 %

Shares of LRMR stock traded down $0.26 during trading on Friday, reaching $7.97. 108,447 shares of the company’s stock were exchanged, compared to its average volume of 565,133. The stock has a market capitalization of $508.57 million, a PE ratio of -7.15 and a beta of 0.98. Larimar Therapeutics has a twelve month low of $2.18 and a twelve month high of $13.68. The firm’s fifty day moving average price is $7.34 and its 200-day moving average price is $7.80.

Analysts Set New Price Targets

A number of brokerages recently weighed in on LRMR. HC Wainwright restated a “buy” rating and set a $15.00 target price on shares of Larimar Therapeutics in a report on Thursday. 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 on the stock. Wedbush initiated coverage on shares of Larimar Therapeutics in a research note on Thursday, October 3rd. They issued an “outperform” rating and a $22.00 target price on the stock. Baird R W upgraded shares of Larimar Therapeutics to a “strong-buy” rating in a research note on Wednesday, September 4th. Finally, Robert W. Baird started coverage on shares of Larimar Therapeutics in a research report on Wednesday, September 4th. They issued an “outperform” rating and a $16.00 price target on the stock. Nine analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently 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.