Weekly Research Analysts’ Ratings Updates for Lyra Therapeutics (LYRA)

Several analysts have recently updated their ratings and price targets for Lyra Therapeutics (NASDAQ: LYRA):

• 5/7/2024 – Lyra Therapeutics was downgraded by analysts at Bank of America Co. from a “buy” rating to an “underperform” rating.
• 5/7/2024 – Lyra Therapeutics was downgraded by analysts at HC Wainwright from a “buy” rating to a “neutral” rating. They now have a $2.00 price target on the stock, down previously from $12.00.
• 5/7/2024 – Lyra Therapeutics was downgraded by analysts at Jefferies Financial Group Inc. from a “buy” rating to a “hold” rating. They now have a $0.50 price target on the stock, down previously from $10.00.
• 5/6/2024 – Lyra Therapeutics had its “neutral” rating reaffirmed by analysts at BTIG Research.
• 5/6/2024 – Lyra Therapeutics was downgraded by analysts at William Blair from an “outperform” rating to a “market perform” rating.
• 5/1/2024 – Lyra Therapeutics had its “buy” rating reaffirmed by analysts at HC Wainwright. They now have a $12.00 price target on the stock.
• 3/25/2024 – Lyra Therapeutics had its price target lowered by analysts at Bank of America Co. from $12.00 to $11.00. They now have a “buy” rating on the stock.
• 3/22/2024 – Lyra Therapeutics had its “buy” rating reaffirmed by analysts at HC Wainwright. They now have a $12.00 price target on the stock.

Lyra Therapeutics Stock Down 19.5 %

NASDAQ:LYRA opened at $0.42 on Wednesday. The company has a fifty day moving average of $5.33 and a 200-day moving average of $4.64. The firm has a market capitalization of $25.61 million, a P/E ratio of -0.35 and a beta of 0.31. Lyra Therapeutics, Inc. has a twelve month low of $0.36 and a twelve month high of $6.79.

Lyra Therapeutics (NASDAQ:LYRA) last announced its quarterly earnings results on Tuesday, April 30th. The company reported ($0.35) EPS for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.09). The business had revenue of $0.53 million for the quarter, compared to the consensus estimate of $0.40 million. Lyra Therapeutics had a negative net margin of 4,099.82% and a negative return on equity of 77.34%. On average, analysts anticipate that Lyra Therapeutics, Inc. will post -1.28 EPS for the current fiscal year.

Institutional Trading of Lyra Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of LYRA. Heritage Wealth Management Inc. Texas bought a new stake in Lyra Therapeutics during the 4th quarter valued at $52,000. Bank of New York Mellon Corp bought a new stake in shares of Lyra Therapeutics in the 3rd quarter worth $73,000. Jump Financial LLC bought a new stake in shares of Lyra Therapeutics in the 4th quarter worth $88,000. Prescott Group Capital Management L.L.C. bought a new stake in shares of Lyra Therapeutics in the 3rd quarter worth $117,000. Finally, Citigroup Inc. bought a new stake in shares of Lyra Therapeutics in the 3rd quarter worth $265,000. Institutional investors own 95.62% of the company’s stock.

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.