Larimar Therapeutics Reports Quarterly Earnings, Misses Estimates

Larimar Therapeutics (NASDAQ:LRMR) released its quarterly earnings report on Monday. The company posted an earnings per share (EPS) of ($0.45), which was below analysts' expectations of ($0.29), resulting in a miss of $0.16 per share, as reported by Zacks.

Impact on Stock Performance

On Tuesday, Larimar Therapeutics' stock opened at $2.28, reflecting a drop of 10.2% following the earnings announcement. The company’s shares have seen significant fluctuations over the past year, with a low of $2.25 and a high of $11.20. Currently, Larimar's 50-day moving average stands at $3.16, and the 200-day moving average is $5.24.

Market Capitalization and Stock Metrics

The market capitalization of Larimar Therapeutics is approximately $145.48 million. The company has a price-to-earnings (PE) ratio of -1.98 and a beta of 0.99, indicating a level of volatility in its stock price compared to the market.

Analyst Ratings and Outlook

Despite the earnings miss, several Wall Street analysts have a positive outlook on Larimar Therapeutics. For example, HC Wainwright maintained a “buy” rating and set a target price of $15.00 for the stock. In another report, Truist Financial initiated coverage with a “buy” rating and a target price of $18.00. Overall, ten analysts have rated the stock as a buy, while one gave it a strong buy rating, with a consensus target price of $20.13 according to MarketBeat.

About Larimar Therapeutics

Larimar Therapeutics, Inc. is a biotechnology company currently in the clinical phase, focusing on developing treatments for rare diseases through its innovative cell-penetrating peptide technology platform. The firm's leading product candidate is CTI-1601, which is undergoing a Phase 2 open-label clinical trial to treat Friedreich's ataxia, a severe and progressive genetic disorder.

Investment Considerations

Before making any investment decisions regarding Larimar Therapeutics, it is advisable to consider insights from top analysts who track the stock market. Currently, there are notable stocks recommended by analysts that may offer better investment opportunities compared to Larimar Therapeutics.

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