Lyra Therapeutics (NASDAQ:LYRA) Rating Reiterated by HC Wainwright

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

A number of other research firms also recently weighed in on LYRA. Bank of America dropped their target price on Lyra Therapeutics from $12.00 to $11.00 and set a buy rating for the company in a research report on Monday, March 25th. Cantor Fitzgerald reissued an overweight rating on shares of Lyra Therapeutics in a report on Friday, January 12th.

Lyra Therapeutics Trading Up 1.7 %

Shares of NASDAQ LYRA opened at $5.25 on Wednesday. Lyra Therapeutics has a 12-month low of $2.36 and a 12-month high of $6.79. The firm’s 50-day simple moving average is $5.55 and its 200 day simple moving average is $4.66.

Lyra Therapeutics (NASDAQ:LYRA) last announced its earnings results on Thursday, March 21st. The company reported ($0.22) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.11. The company had revenue of $0.15 million for the quarter, compared to analyst estimates of $0.52 million. Lyra Therapeutics had a negative net margin of 4,099.82% and a negative return on equity of 74.52%. Research analysts expect that Lyra Therapeutics will post -1.04 EPS for the current fiscal year.

Institutional Trading of Lyra Therapeutics

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

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.