Lyra Therapeutics (NASDAQ:LYRA) Posts Earnings Results, Misses Expectations By $0.04 EPS

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

Lyra Therapeutics Trading Down 1.7 %

Shares of NASDAQ LYRA opened at $0.17 on Friday. The firm has a market cap of $11.26 million, a PE ratio of -0.12 and a beta of -0.18. Lyra Therapeutics has a 1-year low of $0.16 and a 1-year high of $6.79. The company has a fifty day moving average price of $0.19 and a 200 day moving average price of $0.22.

Analysts Set New Price Targets

Separately, HC Wainwright reaffirmed a “neutral” rating and issued a $2.00 target price on shares of Lyra Therapeutics in a research note on Friday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, Lyra Therapeutics presently has a consensus 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.