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

Lyra Therapeutics (NASDAQ:LYRA) released its earnings results on Thursday. The company reported ($0.16) EPS for the quarter, missing the consensus estimate 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 business had revenue of $0.21 million for the quarter, compared to the consensus estimate of $0.21 million. During the same period in the prior year, the business posted ($1.26) EPS.

Lyra Therapeutics Stock Down 1.7 %

Shares of Lyra Therapeutics stock 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 12-month low of $0.16 and a 12-month high of $6.79. The company’s fifty day simple moving average is $0.19 and its two-hundred day simple moving average is $0.22.

Analysts Set New Price Targets

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

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.