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

Larimar Therapeutics (NASDAQ:LRMR) announced its earnings results on Monday. The company reported ($0.45) EPS for the quarter, missing the consensus estimate of ($0.29) by ($0.16), Zacks reports.

Larimar Therapeutics Price Performance

NASDAQ:LRMR opened at $2.31 on Wednesday. The company has a market cap of $147.39 million, a P/E ratio of -2.01 and a beta of 0.99. The firm’s fifty day moving average price is $3.14 and its two-hundred day moving average price is $5.20. Larimar Therapeutics has a one year low of $2.22 and a one year high of $11.20.

Analyst Upgrades and Downgrades

LRMR has been the topic of several research reports. Guggenheim reaffirmed a “buy” rating and set a $26.00 price target on shares of Larimar Therapeutics in a research note on Tuesday. Truist Financial initiated coverage on shares of Larimar Therapeutics in a research report on Wednesday, January 29th. They issued a “buy” rating and a $18.00 price objective for the company. Robert W. Baird lowered their price objective on shares of Larimar Therapeutics from $13.00 to $10.00 and set an “outperform” rating for the company in a research report on Tuesday. Finally, HC Wainwright upped their price target on Larimar Therapeutics from $15.00 to $16.00 and gave the stock a “buy” rating in a research report on Tuesday. Eleven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Larimar Therapeutics has a consensus rating of “Buy” and a consensus price target of $20.22.

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.