Research Analysts Offer Predictions for Lyra Therapeutics, Inc.’s Q2 2021 Earnings (NASDAQ:LYRA)

Lyra Therapeutics, Inc. (NASDAQ:LYRA) – Equities researchers at Jefferies Financial Group dropped their Q2 2021 earnings per share (EPS) estimates for Lyra Therapeutics in a research report issued on Tuesday, May 11th. Jefferies Financial Group analyst C. Howerton now expects that the company will post earnings of ($0.54) per share for the quarter, down from their previous forecast of ($0.45). Jefferies Financial Group also issued estimates for Lyra Therapeutics’ Q3 2021 earnings at ($0.65) EPS, Q4 2021 earnings at ($0.76) EPS, FY2021 earnings at ($2.57) EPS, FY2022 earnings at ($2.42) EPS, FY2023 earnings at ($2.51) EPS, FY2024 earnings at ($2.48) EPS and FY2025 earnings at ($2.69) EPS.

Lyra Therapeutics (NASDAQ:LYRA) last posted its earnings results on Tuesday, May 11th. The company reported ($0.60) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.48) by ($0.12).

Separately, Zacks Investment Research upgraded Lyra Therapeutics from a “sell” rating to a “hold” rating in a report on Wednesday. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $23.50.

LYRA opened at $7.59 on Friday. The stock has a 50-day moving average price of $10.46 and a 200-day moving average price of $11.52. Lyra Therapeutics has a 12-month low of $7.17 and a 12-month high of $17.30.

A number of hedge funds have recently modified their holdings of LYRA. BlackRock Inc. boosted its holdings in Lyra Therapeutics by 27.4% during the 4th quarter. BlackRock Inc. now owns 264,165 shares of the company’s stock valued at $3,012,000 after acquiring an additional 56,839 shares during the period. Bank of New York Mellon Corp boosted its holdings in Lyra Therapeutics by 24.3% during the 4th quarter. Bank of New York Mellon Corp now owns 19,450 shares of the company’s stock valued at $222,000 after acquiring an additional 3,807 shares during the period. Wells Fargo & Company MN boosted its holdings in Lyra Therapeutics by 225.1% during the 4th quarter. Wells Fargo & Company MN now owns 3,521 shares of the company’s stock valued at $40,000 after acquiring an additional 2,438 shares during the period. Northern Trust Corp boosted its holdings in Lyra Therapeutics by 39.1% during the 4th quarter. Northern Trust Corp now owns 67,995 shares of the company’s stock valued at $775,000 after acquiring an additional 19,108 shares during the period. Finally, Ikarian Capital LLC boosted its holdings in Lyra Therapeutics by 110.2% during the 4th quarter. Ikarian Capital LLC now owns 815,364 shares of the company’s stock valued at $9,295,000 after acquiring an additional 427,425 shares during the period. Institutional investors own 59.26% of the company’s stock.

About Lyra Therapeutics

Lyra Therapeutics, Inc, a clinical-stage therapeutics 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. The company's XTreo technology platform is designed to deliver medicines directly to the affected tissue for sustained periods with a single administration.

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Earnings History and Estimates for Lyra Therapeutics (NASDAQ:LYRA)

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