Lyra Therapeutics’ (LYRA) “Buy” Rating Reaffirmed at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Lyra Therapeutics (NASDAQ:LYRA) in a research report report published on Wednesday, Benzinga reports. HC Wainwright currently has a $12.00 price target on the stock.

A number of other research analysts have also commented on LYRA. Bank of America lowered their price target on Lyra Therapeutics from $12.00 to $11.00 and set a buy rating on the stock in a report on Monday, March 25th. Cantor Fitzgerald restated an overweight rating on shares of Lyra Therapeutics in a research report on Friday, January 12th.

Lyra Therapeutics Stock Up 1.7 %

LYRA stock opened at $5.25 on Wednesday. The firm’s 50-day simple moving average is $5.55 and its 200 day simple moving average is $4.66. Lyra Therapeutics has a fifty-two week low of $2.36 and a fifty-two week high of $6.79.

Lyra Therapeutics (NASDAQ:LYRA) last issued its quarterly earnings data on Thursday, March 21st. The company reported ($0.22) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.33) by $0.11. Lyra Therapeutics had a negative return on equity of 74.52% and a negative net margin of 4,099.82%. The business had revenue of $0.15 million during the quarter, compared to the consensus estimate of $0.52 million. As a group, analysts forecast that Lyra Therapeutics will post -1.04 EPS for the current fiscal year.

Institutional Trading of Lyra Therapeutics

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

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.