Equities Analysts Issue Forecasts for LYRA FY2024 Earnings

Lyra Therapeutics, Inc. (NASDAQ:LYRA) – Analysts at William Blair upped their FY2024 earnings per share estimates for Lyra Therapeutics in a report released on Wednesday, November 13th. William Blair analyst L. Hanbury-Brown now anticipates that the company will post earnings of ($0.94) per share for the year, up from their prior estimate of ($0.99). William Blair has a “Hold” rating on the stock. The consensus estimate for Lyra Therapeutics’ current full-year earnings is ($1.05) per share. William Blair also issued estimates for Lyra Therapeutics’ Q4 2024 earnings at ($0.12) EPS, Q1 2025 earnings at ($0.12) EPS, Q2 2025 earnings at ($0.12) EPS, Q3 2025 earnings at ($0.11) EPS, Q4 2025 earnings at ($0.13) EPS and FY2025 earnings at ($0.48) EPS.

A number of other brokerages have also recently weighed in on LYRA. HC Wainwright reiterated a “neutral” rating and set a $2.00 price target on shares of Lyra Therapeutics in a research report on Thursday, August 15th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Lyra Therapeutics in a report on Thursday, August 15th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $4.50.

Lyra Therapeutics Stock Performance

LYRA opened at $0.17 on Monday. The stock has a market capitalization of $10.99 million, a PE ratio of -0.11 and a beta of -0.04. Lyra Therapeutics has a one year low of $0.16 and a one year high of $6.79. The business’s 50 day moving average price is $0.25 and its 200 day moving average price is $0.32.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. State Street Corp lifted its position in shares of Lyra Therapeutics by 88.1% during the 3rd quarter. State Street Corp now owns 488,720 shares of the company’s stock worth $126,000 after buying an additional 228,900 shares during the last quarter. Acadian Asset Management LLC acquired a new stake in Lyra Therapeutics during the 2nd quarter worth $271,000. Finally, Vanguard Group Inc. lifted its position in Lyra Therapeutics by 38.3% in the first quarter. Vanguard Group Inc. now owns 1,481,481 shares of the company’s stock valued at $9,215,000 after acquiring an additional 410,021 shares during the last quarter. 95.62% of the stock is owned by institutional investors and hedge funds.

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.