HC Wainwright Expects Higher Earnings for Lyra Therapeutics

Lyra Therapeutics, Inc. (NASDAQ:LYRA) – Investment analysts at HC Wainwright boosted their FY2024 EPS estimates for shares of Lyra Therapeutics in a research note issued on Thursday, November 14th. HC Wainwright analyst M. Caufield now expects that the company will earn ($0.94) per share for the year, up from their previous forecast of ($1.10). HC Wainwright currently has a “Neutral” rating and a $2.00 target price on the stock. The consensus estimate for Lyra Therapeutics’ current full-year earnings is ($1.05) per share. HC Wainwright also issued estimates for Lyra Therapeutics’ Q4 2024 earnings at ($0.13) EPS, FY2025 earnings at ($0.86) EPS, FY2026 earnings at ($0.83) EPS, FY2027 earnings at ($0.59) EPS and FY2028 earnings at ($0.22) EPS.

Several other equities analysts have also commented on the stock. Cantor Fitzgerald restated an “overweight” rating on shares of Lyra Therapeutics in a report on Thursday, August 15th. William Blair upgraded shares of Lyra Therapeutics to a “hold” rating in a report on Friday, August 30th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, Lyra Therapeutics presently has a consensus rating of “Hold” and an average price target of $4.50.

Lyra Therapeutics Stock Performance

Shares of LYRA stock opened at $0.17 on Monday. The firm’s 50 day moving average price is $0.25 and its 200-day moving average price is $0.35. Lyra Therapeutics has a one year low of $0.17 and a one year high of $6.79. The firm has a market cap of $11.13 million, a P/E ratio of -0.11 and a beta of -0.04.

Institutional Investors Weigh In On Lyra Therapeutics

A number of hedge funds have recently added to or reduced their stakes in the business. Acadian Asset Management LLC acquired a new stake in shares of Lyra Therapeutics in the 2nd quarter valued at $271,000. Vanguard Group Inc. raised its holdings in shares of Lyra Therapeutics by 38.3% in the 1st quarter. Vanguard Group Inc. now owns 1,481,481 shares of the company’s stock valued at $9,215,000 after purchasing an additional 410,021 shares in the last quarter. Finally, State Street Corp raised its holdings in shares of Lyra Therapeutics by 88.1% in the 3rd quarter. State Street Corp now owns 488,720 shares of the company’s stock valued at $126,000 after purchasing an additional 228,900 shares in the last quarter. 95.62% of the stock is currently 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.