What is HC Wainwright’s Forecast for LYRA FY2024 Earnings?

Lyra Therapeutics, Inc. (NASDAQ:LYRA) – Stock analysts at HC Wainwright raised their FY2024 earnings per share (EPS) estimates for shares of Lyra Therapeutics in a note issued to investors on Thursday, November 14th. HC Wainwright analyst M. Caufield now forecasts that the company will post earnings per share of ($0.94) for the year, up from their prior forecast of ($1.10). HC Wainwright has a “Neutral” rating and a $2.00 price objective on the stock. The consensus estimate for Lyra Therapeutics’ current full-year earnings is ($1.05) per share. HC Wainwright also issued estimates for Lyra Therapeutics’ Q4 2024 earnings at ($0.13) EPS, FY2025 earnings at ($0.86) EPS, FY2026 earnings at ($0.83) EPS, FY2027 earnings at ($0.59) EPS and FY2028 earnings at ($0.22) EPS.

Several other analysts have also weighed in on LYRA. William Blair upgraded shares of Lyra Therapeutics to a “hold” rating in a research note on Friday, August 30th. Cantor Fitzgerald reaffirmed an “overweight” rating 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 given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $4.50.

Lyra Therapeutics Stock Performance

LYRA stock opened at $0.17 on Monday. The stock’s 50 day simple moving average is $0.25 and its 200 day simple moving average is $0.32. Lyra Therapeutics has a 12-month low of $0.16 and a 12-month high of $6.79. The firm has a market cap of $10.99 million, a P/E ratio of -0.11 and a beta of -0.04.

Institutional Investors Weigh In On Lyra Therapeutics

A number of hedge funds have recently added to or reduced their stakes in LYRA. Vanguard Group Inc. grew its position 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 worth $9,215,000 after acquiring an additional 410,021 shares during the last quarter. Acadian Asset Management LLC acquired a new position in Lyra Therapeutics during the 2nd quarter valued at about $271,000. Finally, State Street Corp boosted its stake in Lyra Therapeutics by 88.1% during 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 during the period. 95.62% of the stock is currently owned by 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.