William Blair Has Positive Estimate for LYRA FY2024 Earnings

Lyra Therapeutics, Inc. (NASDAQ:LYRA) – Research analysts at William Blair increased their FY2024 earnings estimates for shares of Lyra Therapeutics in a research note issued to investors on Wednesday, November 13th. William Blair analyst L. Hanbury-Brown now expects that the company will earn ($0.94) per share for the year, up from their previous forecast 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.

A number of other research firms have also issued reports on LYRA. Cantor Fitzgerald reissued an “overweight” rating on shares of Lyra Therapeutics in a report on Thursday, August 15th. HC Wainwright reaffirmed a “neutral” rating and set a $2.00 price objective on shares of Lyra Therapeutics in a research report on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $4.50.

Lyra Therapeutics Stock Performance

NASDAQ LYRA opened at $0.17 on Monday. The firm’s fifty day moving average is $0.25 and its two-hundred day moving average is $0.32. Lyra Therapeutics has a one year low of $0.16 and a one year high of $6.79. The firm has a market cap of $10.99 million, a PE ratio of -0.11 and a beta of -0.04.

Institutional Investors Weigh In On Lyra Therapeutics

Hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in Lyra Therapeutics by 38.3% in the first quarter. Vanguard Group Inc. now owns 1,481,481 shares of the company’s stock worth $9,215,000 after acquiring an additional 410,021 shares in the last quarter. Acadian Asset Management LLC purchased a new position in shares of Lyra Therapeutics in the 2nd quarter valued at about $271,000. Finally, State Street Corp increased 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. Institutional investors and hedge funds 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.