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

Larimar Therapeutics (NASDAQ:LRMR) released its quarterly earnings results on Monday. The company reported ($0.45) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.16), Zacks reports.

Larimar Therapeutics Trading Down 10.2 %

Shares of Larimar Therapeutics stock opened at $2.28 on Tuesday. The company has a 50-day moving average of $3.16 and a two-hundred day moving average of $5.24. Larimar Therapeutics has a 12-month low of $2.25 and a 12-month high of $11.20. The stock has a market cap of $145.48 million, a PE ratio of -1.98 and a beta of 0.99.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Robert W. Baird dropped their target price on Larimar Therapeutics from $13.00 to $10.00 and set an “outperform” rating on the stock in a report on Tuesday. Truist Financial began coverage on shares of Larimar Therapeutics in a report on Wednesday, January 29th. They issued a “buy” rating and a $18.00 target price on the stock. Finally, HC Wainwright increased their price target on shares of Larimar Therapeutics from $15.00 to $16.00 and gave the stock a “buy” rating in a report on Tuesday. Ten equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $19.50.

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.