Lyra Therapeutics (NASDAQ:LYRA) Announces Quarterly Earnings Results

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

Lyra Therapeutics Trading Down 1.7 %

Shares of NASDAQ LYRA opened at $0.17 on Friday. Lyra Therapeutics has a 12 month low of $0.16 and a 12 month high of $6.79. The company has a 50 day simple moving average of $0.19 and a two-hundred day simple moving average of $0.22. The stock has a market cap of $11.26 million, a price-to-earnings ratio of -0.12 and a beta of -0.18.

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. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average 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.