William Blair Has Positive Forecast for LYRA FY2024 Earnings

Lyra Therapeutics, Inc. (NASDAQ:LYRA) – Stock analysts at William Blair boosted their FY2024 earnings estimates for shares of Lyra Therapeutics in a research note issued on Wednesday, November 13th. William Blair analyst L. Hanbury-Brown now anticipates that the company will earn ($0.94) per share for the year, up from their prior 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 analysts have also weighed in on LYRA. Cantor Fitzgerald reissued an “overweight” rating on shares of Lyra Therapeutics in a research report on Thursday, August 15th. HC Wainwright restated a “neutral” rating and issued a $2.00 target price on shares of Lyra Therapeutics in a research note on Thursday, August 15th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $4.50.

Lyra Therapeutics Price Performance

Lyra Therapeutics stock opened at $0.17 on Monday. Lyra Therapeutics has a 1-year low of $0.17 and a 1-year high of $6.79. The firm has a market capitalization of $11.13 million, a P/E ratio of -0.11 and a beta of -0.04. The company’s 50-day moving average is $0.25 and its 200 day moving average is $0.35.

Hedge Funds Weigh In On Lyra Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the business. State Street Corp boosted its stake in shares of Lyra Therapeutics by 88.1% during the third 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. Acadian Asset Management LLC bought a new position in shares of Lyra Therapeutics during the second quarter valued at approximately $271,000. Finally, Vanguard Group Inc. boosted its stake in shares of Lyra Therapeutics by 38.3% during the first quarter. Vanguard Group Inc. now owns 1,481,481 shares of the company’s stock valued at $9,215,000 after purchasing an additional 410,021 shares in the last quarter. 95.62% of the stock is currently owned by institutional investors.

About Lyra Therapeutics

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.