Larimar Therapeutics (NASDAQ:LRMR) Posts Quarterly Earnings Results, Beats Estimates By $0.13 EPS

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

Larimar Therapeutics Trading Down 1.4 %

LRMR traded down $0.12 during trading on Thursday, reaching $8.34. The stock had a trading volume of 247,613 shares, compared to its average volume of 565,978. The company has a market capitalization of $532.15 million, a price-to-earnings ratio of -7.55 and a beta of 0.98. The stock’s 50 day moving average is $7.33 and its two-hundred day moving average is $7.80. Larimar Therapeutics has a one year low of $2.18 and a one year high of $13.68.

Analysts Set New Price Targets

LRMR has been the topic of several recent analyst reports. HC Wainwright restated a “buy” rating and issued a $15.00 target price on shares of Larimar Therapeutics in a report on Thursday. Baird R W raised Larimar Therapeutics to a “strong-buy” rating in a research note on Wednesday, September 4th. 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. 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 price objective on the stock. Finally, Wedbush began coverage on shares of Larimar Therapeutics in a research report on Thursday, October 3rd. They issued an “outperform” rating and a $22.00 target price for the company. Nine research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average 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.