HC Wainwright reaffirmed their buy rating on shares of Lyra Therapeutics (NASDAQ:LYRA – Free Report) in a research note issued to investors on Wednesday morning, Benzinga reports. They currently have a $12.00 target price on the stock. HC Wainwright also issued estimates for Lyra Therapeutics’ Q2 2024 earnings at ($0.34) EPS, 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.
Several other brokerages have also recently issued reports on LYRA. Cantor Fitzgerald restated an overweight rating on shares of Lyra Therapeutics in a report on Friday, January 12th. Bank of America decreased their price objective on shares of Lyra Therapeutics from $12.00 to $11.00 and set a buy rating for the company in a research note on Monday, March 25th.
View Our Latest Report on Lyra Therapeutics
Lyra Therapeutics Price Performance
Lyra Therapeutics (NASDAQ:LYRA – Get Free Report) last posted its earnings results on Tuesday, April 30th. The company reported ($0.35) earnings per share for the quarter, missing the consensus estimate of ($0.26) by ($0.09). The business had revenue of $0.53 million for the quarter, compared to analysts’ expectations of $0.40 million. Lyra Therapeutics had a negative return on equity of 77.34% and a negative net margin of 4,099.82%. As a group, equities research analysts expect that Lyra Therapeutics will post -1.04 earnings per share for the current year.
Institutional Investors Weigh In On Lyra Therapeutics
Several large investors have recently modified their holdings of LYRA. Vestal Point Capital LP acquired a new position in shares of Lyra Therapeutics in the 4th quarter valued at $15,720,000. Parkman Healthcare Partners LLC increased its stake in Lyra Therapeutics by 20.8% in the fourth quarter. Parkman Healthcare Partners LLC now owns 754,885 shares of the company’s stock valued at $3,956,000 after purchasing an additional 129,829 shares during the period. Citigroup Inc. purchased a new stake in shares of Lyra Therapeutics in the third quarter valued at about $265,000. Prescott Group Capital Management L.L.C. acquired a new stake in shares of Lyra Therapeutics during the third quarter worth about $117,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Lyra Therapeutics during the third quarter worth about $73,000. 95.62% of the stock is owned by institutional investors and hedge funds.
About Lyra Therapeutics
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.
Featured Stories
- Five stocks we like better than Lyra Therapeutics
- Best Stocks Under $5.00
- Appleās Earnings Show Investors Its Strength and Its Weakness
- Insider Trading – What You Need to Know
- Bargain Alert: 3 Large Caps With Extremely Oversold RSIs
- 3 Healthcare Dividend Stocks to Buy
- DraftKings Q1: Strong Customer Acquisition and Product Innovation
Receive News & Ratings for Lyra Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lyra Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.