Lyra Therapeutics, Inc. to Post Q3 2024 Earnings of ($0.19) Per Share, William Blair Forecasts (NASDAQ:LYRA)

Lyra Therapeutics, Inc. (NASDAQ:LYRA) – Research analysts at William Blair increased their Q3 2024 earnings estimates for shares of Lyra Therapeutics in a research note issued to investors on Thursday, August 15th. William Blair analyst T. Lugo now expects that the company will earn ($0.19) per share for the quarter, up from their previous forecast of ($0.31). William Blair has a “Market Perform” rating on the stock. The consensus estimate for Lyra Therapeutics’ current full-year earnings is ($1.22) per share. William Blair also issued estimates for Lyra Therapeutics’ Q4 2024 earnings at ($0.17) EPS, FY2024 earnings at ($0.99) EPS, Q1 2025 earnings at ($0.17) EPS, Q2 2025 earnings at ($0.13) EPS, Q3 2025 earnings at ($0.12) EPS, Q4 2025 earnings at ($0.11) EPS and FY2025 earnings at ($0.54) EPS.

A number of other equities analysts also recently commented on the stock. HC Wainwright restated 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 reiterated an “overweight” rating on shares of Lyra Therapeutics in a research report on Thursday, August 15th. Bank of America cut Lyra Therapeutics from a “buy” rating to an “underperform” rating in a research report on Tuesday, May 7th. BTIG Research restated a “neutral” rating on shares of Lyra Therapeutics in a research note on Monday, May 6th. Finally, Jefferies Financial Group lowered Lyra Therapeutics from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $10.00 to $0.50 in a report on Tuesday, May 7th. One investment 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 MarketBeat, Lyra Therapeutics presently has a consensus rating of “Hold” and an average target price of $7.13.

Lyra Therapeutics Price Performance

LYRA stock opened at $0.33 on Monday. The company has a fifty day moving average price of $0.29 and a 200 day moving average price of $2.64. Lyra Therapeutics has a 12 month low of $0.25 and a 12 month high of $6.79. The company has a market cap of $19.87 million, a price-to-earnings ratio of -0.27 and a beta of -0.01.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Vestal Point Capital LP purchased a new stake in Lyra Therapeutics in the 4th quarter valued at approximately $15,720,000. Acadian Asset Management LLC purchased a new stake in Lyra Therapeutics in the 2nd quarter valued at approximately $271,000. Vanguard Group Inc. lifted its stake in 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 buying an additional 410,021 shares in the last quarter. Parkman Healthcare Partners LLC lifted its stake in Lyra Therapeutics by 20.8% in the 4th quarter. Parkman Healthcare Partners LLC now owns 754,885 shares of the company’s stock valued at $3,956,000 after buying an additional 129,829 shares in the last quarter. Finally, Jump Financial LLC purchased a new stake in Lyra Therapeutics in the 4th quarter valued at approximately $88,000. Hedge funds and other 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.