Analysts Set Lyra Therapeutics, Inc. (NASDAQ:LYRA) Target Price at $4.50

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

Separately, HC Wainwright reaffirmed a “neutral” rating and issued a $2.00 price target on shares of Lyra Therapeutics in a report on Friday.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. BNP Paribas Financial Markets purchased a new position in shares of Lyra Therapeutics during the fourth quarter worth $51,000. Northern Trust Corp raised its holdings in shares of Lyra Therapeutics by 56.2% during the fourth quarter. Northern Trust Corp now owns 286,310 shares of the company’s stock worth $59,000 after purchasing an additional 103,026 shares during the last quarter. ADAR1 Capital Management LLC purchased a new position in shares of Lyra Therapeutics during the fourth quarter worth $110,000. Geode Capital Management LLC raised its holdings in shares of Lyra Therapeutics by 15.3% during the fourth quarter. Geode Capital Management LLC now owns 885,966 shares of the company’s stock worth $183,000 after purchasing an additional 117,578 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of Lyra Therapeutics by 161.8% during the fourth quarter. JPMorgan Chase & Co. now owns 156,442 shares of the company’s stock worth $32,000 after purchasing an additional 96,681 shares during the last quarter. Hedge funds and other institutional investors own 95.62% of the company’s stock.

Lyra Therapeutics Stock Down 1.7 %

Shares of LYRA opened at $0.17 on Friday. The company has a market cap of $11.26 million, a price-to-earnings ratio of -0.12 and a beta of -0.18. Lyra Therapeutics has a twelve month low of $0.16 and a twelve month high of $6.79. The company has a 50 day moving average of $0.19 and a two-hundred day moving average of $0.22.

Lyra Therapeutics (NASDAQ:LYRA) last announced its earnings results on Thursday, March 13th. The company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.04). The firm had revenue of $0.21 million during the quarter, compared to analyst estimates of $0.21 million. Lyra Therapeutics had a negative net margin of 6,635.76% and a negative return on equity of 125.07%. During the same quarter last year, the business earned ($1.26) earnings per share. On average, sell-side analysts expect that Lyra Therapeutics will post -0.93 EPS for the current year.

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.