William Blair Has Positive Forecast for LYRA FY2024 Earnings

Lyra Therapeutics, Inc. (NASDAQ:LYRA) – William Blair lifted their FY2024 EPS estimates for shares of Lyra Therapeutics in a research note issued on Wednesday, November 13th. William Blair analyst L. Hanbury-Brown now forecasts 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.

Other equities research analysts also recently issued research reports about the stock. HC Wainwright reissued a “neutral” rating and set a $2.00 price objective on shares of Lyra Therapeutics in a research report on Thursday, August 15th. Cantor Fitzgerald reissued an “overweight” rating on shares of Lyra Therapeutics in a research 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 given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $4.50.

Lyra Therapeutics Trading Down 5.6 %

Shares of LYRA opened at $0.17 on Monday. The firm has a market cap of $11.13 million, a PE ratio of -0.11 and a beta of -0.04. The firm has a fifty day simple moving average of $0.25 and a two-hundred day simple moving average of $0.35. Lyra Therapeutics has a 1-year low of $0.17 and a 1-year high of $6.79.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. State Street Corp raised 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 valued at $126,000 after buying an additional 228,900 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Lyra Therapeutics by 38.3% during the 1st quarter. Vanguard Group Inc. now owns 1,481,481 shares of the company’s stock valued at $9,215,000 after buying an additional 410,021 shares in the last quarter. Finally, Acadian Asset Management LLC purchased a new stake in shares of Lyra Therapeutics during the 2nd quarter valued at about $271,000. 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.