HC Wainwright Weighs in on Lyra Therapeutics, Inc.’s Q2 2024 Earnings (NASDAQ:LYRA)

Lyra Therapeutics, Inc. (NASDAQ:LYRA) – Analysts at HC Wainwright cut their Q2 2024 earnings estimates for Lyra Therapeutics in a research report issued on Wednesday, May 1st. HC Wainwright analyst M. Caufield now anticipates that the company will post earnings of ($0.34) per share for the quarter, down from their prior estimate of ($0.28). HC Wainwright currently has a “Buy” rating and a $12.00 target price on the stock. The consensus estimate for Lyra Therapeutics’ current full-year earnings is ($1.04) per share. HC Wainwright also issued estimates for Lyra Therapeutics’ Q3 2024 earnings at ($0.33) EPS, Q4 2024 earnings at ($0.31) EPS, FY2024 earnings at ($1.33) EPS, FY2025 earnings at ($1.23) EPS, FY2026 earnings at ($1.22) EPS, FY2027 earnings at ($0.78) EPS and FY2028 earnings at ($0.07) EPS.

Lyra Therapeutics (NASDAQ:LYRA) last posted its earnings results on Tuesday, April 30th. The company reported ($0.35) EPS for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.09). The firm had revenue of $0.53 million for the quarter, compared to analyst estimates of $0.40 million. Lyra Therapeutics had a negative return on equity of 77.34% and a negative net margin of 4,099.82%.

Several other analysts have also recently issued reports on LYRA. Bank of America cut their price target on shares of Lyra Therapeutics from $12.00 to $11.00 and set a “buy” rating on the stock in a report on Monday, March 25th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Lyra Therapeutics in a report on Friday, January 12th.

Lyra Therapeutics Price Performance

LYRA opened at $4.03 on Friday. The stock has a market capitalization of $245.71 million, a PE ratio of -3.52 and a beta of 0.31. The firm’s fifty day moving average price is $5.55 and its 200 day moving average price is $4.67. Lyra Therapeutics has a 12-month low of $2.36 and a 12-month high of $6.79.

Institutional Investors Weigh In On Lyra Therapeutics

Several institutional investors have recently bought and sold shares of LYRA. Vestal Point Capital LP acquired a new stake in Lyra Therapeutics in the fourth quarter worth about $15,720,000. Parkman Healthcare Partners LLC lifted its holdings in Lyra Therapeutics by 20.8% in the fourth quarter. Parkman Healthcare Partners LLC now owns 754,885 shares of the company’s stock worth $3,956,000 after purchasing an additional 129,829 shares during the period. Citigroup Inc. acquired a new stake in Lyra Therapeutics in the third quarter worth about $265,000. Prescott Group Capital Management L.L.C. acquired a new stake in Lyra Therapeutics in the third quarter worth about $117,000. Finally, Bank of New York Mellon Corp acquired a new stake in Lyra Therapeutics in the third quarter worth about $73,000. Institutional investors and hedge funds own 95.62% of the company’s stock.

Lyra Therapeutics Company Profile

Lyra Therapeutics, Inc, a clinical-stage biotechnology company, focuses on the development and commercialization of novel integrated drug and delivery solutions for the localized treatment of patients with ear, nose, and throat diseases. It's XTreo technology platform is designed to deliver medicines directly to the affected tissue for sustained periods with a single administration.