Brokerages Set Lyra Therapeutics, Inc. (NASDAQ:LYRA) PT at $4.50

Lyra Therapeutics, Inc. (NASDAQ:LYRAGet Free Report) has received a consensus rating of “Hold” from the six ratings firms that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and one has given a buy recommendation to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $4.50.

A number of research firms have recently issued reports on LYRA. HC Wainwright reaffirmed a “neutral” rating and issued a $2.00 price objective on shares of Lyra Therapeutics in a research report on Thursday, August 15th. William Blair raised Lyra Therapeutics to a “hold” rating in a report on Friday, August 30th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Lyra Therapeutics in a research report on Thursday, August 15th.

View Our Latest Stock Report on LYRA

Lyra Therapeutics Stock Performance

NASDAQ:LYRA opened at $0.27 on Tuesday. Lyra Therapeutics has a 52-week low of $0.21 and a 52-week high of $6.79. The company has a market cap of $17.99 million, a P/E ratio of -0.17 and a beta of -0.02. The stock’s 50-day simple moving average is $0.27 and its 200 day simple moving average is $0.80.

Lyra Therapeutics (NASDAQ:LYRAGet Free Report) last announced its quarterly earnings results on Wednesday, August 14th. The company reported ($0.29) EPS for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.05. The firm had revenue of $0.60 million during the quarter, compared to analysts’ expectations of $0.43 million. Lyra Therapeutics had a negative net margin of 5,570.88% and a negative return on equity of 102.22%. As a group, equities analysts predict that Lyra Therapeutics will post -1.15 earnings per share for the current fiscal year.

Institutional Trading of Lyra Therapeutics

A hedge fund recently raised its stake in Lyra Therapeutics stock. Vanguard Group Inc. lifted its position in shares of Lyra Therapeutics, Inc. (NASDAQ:LYRAFree Report) by 38.3% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,481,481 shares of the company’s stock after buying an additional 410,021 shares during the quarter. Vanguard Group Inc. owned about 2.43% of Lyra Therapeutics worth $9,215,000 as of its most recent SEC filing. Institutional investors and hedge funds own 95.62% of the company’s stock.

About Lyra Therapeutics

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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.

Further Reading

Analyst Recommendations for Lyra Therapeutics (NASDAQ:LYRA)

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