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

Lyra Therapeutics (NASDAQ:LYRA) posted 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 return on equity of 125.07% and a negative net margin of 6,635.76%. The business had revenue of $0.21 million for the quarter, compared to analyst estimates of $0.21 million. During the same quarter in the prior year, the company earned ($1.26) earnings per share.

Lyra Therapeutics Stock Performance

Shares of NASDAQ:LYRA opened at $0.17 on Friday. Lyra Therapeutics has a 52-week low of $0.16 and a 52-week high of $6.79. The company has a market capitalization of $11.26 million, a P/E ratio of -0.12 and a beta of -0.18. The company has a 50-day simple moving average of $0.19 and a 200 day simple moving average of $0.22.

Wall Street Analyst Weigh In

Separately, HC Wainwright restated a “neutral” rating and set a $2.00 price objective on shares of Lyra Therapeutics in a research note on Friday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price 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.