Brokerages Set Lyra Therapeutics, Inc. (NASDAQ:LYRA) PT at $4.50

Shares of Lyra Therapeutics, Inc. (NASDAQ:LYRA) have earned an average rating of “Hold” from the six analysts that are presently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $4.50.

LYRA has been the subject of a number of analyst reports. HC Wainwright restated a “neutral” rating and set a $2.00 price objective on shares of Lyra Therapeutics in a report on Thursday, August 15th. William Blair raised shares of Lyra Therapeutics to a “hold” rating in a report on Friday, August 30th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Lyra Therapeutics in a research note on Thursday, August 15th.

Lyra Therapeutics Stock Performance

Shares of NASDAQ:LYRA opened at $0.27 on Tuesday. Lyra Therapeutics has a 1-year low of $0.21 and a 1-year high of $6.79. The stock has a market capitalization of $17.99 million, a P/E ratio of -0.17 and a beta of -0.02. The business has a 50-day moving average price of $0.27 and a two-hundred day moving average price of $0.80.

Lyra Therapeutics (NASDAQ:LYRA) last announced its quarterly earnings data on Wednesday, August 14th. The company reported ($0.29) EPS for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.05. Lyra Therapeutics had a negative return on equity of 102.22% and a negative net margin of 5,570.88%. The business had revenue of $0.60 million during the quarter, compared to analysts’ expectations of $0.43 million. As a group, equities analysts predict that Lyra Therapeutics will post -1.15 EPS for the current year.

Institutional Investors Weigh In On Lyra Therapeutics

An institutional investor recently raised its position in Lyra Therapeutics stock. Vanguard Group Inc. grew its holdings in Lyra Therapeutics, Inc. (NASDAQ:LYRA) by 38.3% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,481,481 shares of the company’s stock after purchasing an additional 410,021 shares during the period. Vanguard Group Inc. owned about 2.43% of Lyra Therapeutics worth $9,215,000 at the end of the most recent quarter. 95.62% of the stock is owned by hedge funds and other institutional investors.

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.