Lyra Therapeutics (NASDAQ:LYRA) Announces Earnings Results

Lyra Therapeutics (NASDAQ:LYRA) announced its quarterly earnings data on Thursday. The company reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.04), Zacks reports. The business had revenue of $0.21 million during the quarter, compared to analysts’ expectations of $0.21 million. Lyra Therapeutics had a negative return on equity of 125.07% and a negative net margin of 6,635.76%. During the same quarter last year, the company posted ($1.26) EPS.

Lyra Therapeutics Stock Performance

Shares of NASDAQ LYRA opened at $0.17 on Friday. The company has a market cap of $11.26 million, a PE ratio of -0.12 and a beta of -0.18. Lyra Therapeutics has a 52-week low of $0.16 and a 52-week high of $6.79. The firm’s 50 day moving average price is $0.19 and its 200-day moving average price is $0.22.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright restated a “neutral” rating and issued a $2.00 price objective on shares of Lyra Therapeutics in a report on Friday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $4.50.

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.