Equities Analysts Set Expectations for Lyra Therapeutics, Inc.’s Q3 2024 Earnings (NASDAQ:LYRA)

Lyra Therapeutics, Inc. (NASDAQ:LYRA) – Analysts at William Blair increased their Q3 2024 earnings per share (EPS) 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.

Other analysts have also recently issued reports about the company. HC Wainwright reaffirmed a “neutral” rating and set a $2.00 price objective on shares of Lyra Therapeutics in a report on Thursday. Jefferies Financial Group cut Lyra Therapeutics from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $10.00 to $0.50 in a report on Tuesday, May 7th. Bank of America cut Lyra Therapeutics from a “buy” rating to an “underperform” rating in a report on Tuesday, May 7th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Lyra Therapeutics in a report on Thursday. Finally, BTIG Research reaffirmed a “neutral” rating on shares of Lyra Therapeutics in a report on Monday, May 6th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $7.13.

Lyra Therapeutics Price Performance

LYRA stock opened at $0.30 on Monday. Lyra Therapeutics has a 1-year low of $0.25 and a 1-year high of $6.79. The company has a market capitalization of $18.21 million, a price-to-earnings ratio of -0.25 and a beta of -0.01. The business has a 50 day simple moving average of $0.29 and a two-hundred day simple moving average of $2.70.

Institutional Trading of Lyra Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Jump Financial LLC purchased a new stake in Lyra Therapeutics during the 4th quarter valued at $88,000. Parkman Healthcare Partners LLC raised its holdings in Lyra Therapeutics by 20.8% during 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 during the period. Vanguard Group Inc. raised its holdings in 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 during the period. Acadian Asset Management LLC purchased a new stake in Lyra Therapeutics during the 2nd quarter valued at $271,000. Finally, Vestal Point Capital LP purchased a new stake in Lyra Therapeutics during the 4th quarter valued at $15,720,000. 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.