Brokers Offer Predictions for Lyra Therapeutics, Inc.’s Q2 2024 Earnings (NASDAQ:LYRA)

Lyra Therapeutics, Inc. (NASDAQ:LYRA) – Stock analysts at HC Wainwright dropped their Q2 2024 earnings per share (EPS) estimates for shares of Lyra Therapeutics in a research note issued on Wednesday, May 1st. HC Wainwright analyst M. Caufield now expects that the company will post earnings per share of ($0.34) for the quarter, down from their previous forecast of ($0.28). HC Wainwright currently has a “Buy” rating and a $12.00 price objective on the stock. The consensus estimate for Lyra Therapeutics’ current full-year earnings is ($1.28) 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 released its earnings results on Tuesday, April 30th. The company reported ($0.35) EPS for the quarter, missing the consensus estimate of ($0.26) by ($0.09). Lyra Therapeutics had a negative net margin of 4,099.82% and a negative return on equity of 77.34%. The firm had revenue of $0.53 million during the quarter, compared to the consensus estimate of $0.40 million.

Several other analysts have also issued reports on the company. Bank of America dropped their price objective on Lyra Therapeutics from $12.00 to $11.00 and set a “buy” rating on the stock in a research note on Monday, March 25th. Cantor Fitzgerald restated an “overweight” rating on shares of Lyra Therapeutics in a research note on Friday, January 12th.

Lyra Therapeutics Price Performance

Lyra Therapeutics stock opened at $4.03 on Friday. Lyra Therapeutics has a fifty-two week low of $2.36 and a fifty-two week high of $6.79. The firm has a market capitalization of $245.71 million, a PE ratio of -3.36 and a beta of 0.31. The company’s 50-day moving average is $5.52 and its 200-day moving average is $4.67.

Institutional Investors Weigh In On Lyra Therapeutics

Institutional investors have recently made changes to their positions in the company. Bank of New York Mellon Corp bought a new position in shares of Lyra Therapeutics during the third quarter worth approximately $73,000. Prescott Group Capital Management L.L.C. acquired a new position in Lyra Therapeutics in the 3rd quarter valued at $117,000. Citigroup Inc. bought a new position in Lyra Therapeutics during the 3rd quarter worth $265,000. Heritage Wealth Management Inc. Texas acquired a new stake in shares of Lyra Therapeutics during the fourth quarter worth $52,000. Finally, Jump Financial LLC bought a new stake in shares of Lyra Therapeutics in the fourth quarter valued at about $88,000. Institutional investors 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.