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

Lyra Therapeutics (NASDAQ:LYRA) issued its quarterly earnings results on Thursday. The company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.04), Zacks reports. The business had revenue of $0.21 million for the quarter, compared to analyst estimates 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 period in the previous year, the company posted ($1.26) earnings per share.

Lyra Therapeutics Stock Performance

NASDAQ:LYRA opened at $0.17 on Friday. Lyra Therapeutics has a one year low of $0.16 and a one year high of $6.79. The firm has a market cap of $11.26 million, a price-to-earnings ratio of -0.12 and a beta of -0.18. The firm’s fifty day moving average is $0.19 and its two-hundred day moving average is $0.22.

Analyst Ratings Changes

Separately, HC Wainwright reissued a “neutral” rating and set 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 assigned a buy rating to the company. According to MarketBeat.com, Lyra Therapeutics presently has a consensus rating of “Hold” and a consensus target price 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.