Brokers Set Expectations for Lyra Therapeutics, Inc.’s Q2 2024 Earnings (NASDAQ:LYRA)

Lyra Therapeutics, Inc. (NASDAQ:LYRA) – Equities research analysts at William Blair lowered their Q2 2024 EPS estimates for Lyra Therapeutics in a report released on Wednesday, May 1st. William Blair analyst T. Lugo now anticipates that the company will earn ($0.33) per share for the quarter, down from their previous forecast of ($0.26). The consensus estimate for Lyra Therapeutics’ current full-year earnings is ($1.28) per share. William Blair also issued estimates for Lyra Therapeutics’ Q3 2024 earnings at ($0.31) EPS, Q4 2024 earnings at ($0.29) EPS, FY2024 earnings at ($1.27) EPS, Q1 2025 earnings at ($0.31) EPS, Q2 2025 earnings at ($0.30) EPS, Q3 2025 earnings at ($0.32) EPS, Q4 2025 earnings at ($0.29) EPS and FY2025 earnings at ($1.22) EPS.

Several other analysts also recently weighed in on LYRA. Cantor Fitzgerald reissued an “overweight” rating on shares of Lyra Therapeutics in a report on Friday, January 12th. HC Wainwright reaffirmed a “buy” rating and set a $12.00 price objective on shares of Lyra Therapeutics in a research report on Wednesday. Finally, Bank of America cut their price target on Lyra Therapeutics from $12.00 to $11.00 and set a “buy” rating for the company in a research note on Monday, March 25th.

Lyra Therapeutics Price Performance

NASDAQ LYRA opened at $4.03 on Friday. The company has a fifty day moving average of $5.52 and a two-hundred day moving average of $4.67. The company has a market capitalization of $245.71 million, a PE ratio of -3.36 and a beta of 0.31. Lyra Therapeutics has a 1 year low of $2.36 and a 1 year high of $6.79.

Lyra Therapeutics (NASDAQ:LYRA) last issued its earnings results on Tuesday, April 30th. The company reported ($0.35) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.26) by ($0.09). Lyra Therapeutics had a negative net margin of 4,099.82% and a negative return on equity of 77.34%. The company had revenue of $0.53 million during the quarter, compared to analyst estimates of $0.40 million.

Hedge Funds Weigh In On Lyra Therapeutics

Several hedge funds have recently bought and sold shares of LYRA. Bank of New York Mellon Corp acquired a new stake in Lyra Therapeutics in the third quarter valued at $73,000. Prescott Group Capital Management L.L.C. acquired a new stake in Lyra Therapeutics in the 3rd quarter valued at about $117,000. Citigroup Inc. purchased a new position in Lyra Therapeutics during the 3rd quarter valued at about $265,000. Heritage Wealth Management Inc. Texas acquired a new position in Lyra Therapeutics during the fourth quarter worth about $52,000. Finally, Jump Financial LLC purchased a new stake in shares of Lyra Therapeutics in the fourth quarter valued at about $88,000. 95.62% of the stock is owned by hedge funds and other institutional investors.

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.