Larimar Therapeutics (NASDAQ:LRMR) Issues Earnings Results

Larimar Therapeutics (NASDAQ:LRMR) released its earnings results on Wednesday. The company reported ($0.24) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.13, RTT News reports. During the same quarter in the previous year, the firm posted ($0.21) EPS.

Larimar Therapeutics Trading Up 1.7 %

Shares of NASDAQ LRMR traded up $0.14 during midday trading on Thursday, reaching $8.60. The company had a trading volume of 179,881 shares, compared to its average volume of 565,578. Larimar Therapeutics has a 1 year low of $2.18 and a 1 year high of $13.68. The stock has a market cap of $548.74 million, a P/E ratio of -7.55 and a beta of 0.98. The business’s 50-day simple moving average is $7.33 and its 200 day simple moving average is $7.80.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Wedbush initiated coverage on Larimar Therapeutics in a research report on Thursday, October 3rd. They issued an “outperform” rating and a $22.00 price target for the company. Baird R W raised shares of Larimar Therapeutics to a “strong-buy” rating in a research note on Wednesday, September 4th. HC Wainwright reissued a “buy” rating and issued a $15.00 target price on shares of Larimar Therapeutics in a research note on Thursday. Robert W. Baird started coverage on shares of Larimar Therapeutics in a research note on Wednesday, September 4th. They set an “outperform” rating and a $16.00 price target for the company. Finally, Oppenheimer began coverage on shares of Larimar Therapeutics in a research report on Wednesday, October 16th. They issued an “outperform” rating and a $26.00 price objective on the stock. Nine investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price 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.