Fintel reports that on September 12, 2023, B of A Securities maintained coverage of Lyra Therapeutics (NASDAQ:LYRA) with a Buy recommendation.
Analyst Price Forecast Suggests 185.98% Upside
As of August 31, 2023, the average one-year price target for Lyra Therapeutics is 12.24. The forecasts range from a low of 8.08 to a high of $15.75. The average price target represents an increase of 185.98% from its latest reported closing price of 4.28.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Lyra Therapeutics is 0MM, a decrease of 70.42%. The projected annual non-GAAP EPS is -1.75.
What is the Fund Sentiment?
There are 59 funds or institutions reporting positions in Lyra Therapeutics. This is an increase of 5 owner(s) or 9.26% in the last quarter. Average portfolio weight of all funds dedicated to LYRA is 0.15%, an increase of 142.52%. Total shares owned by institutions increased in the last three months by 77.13% to 33,812K shares. 
The put/call ratio of LYRA is 0.07, indicating a bullish outlook.
What are Other Shareholders Doing?
Perceptive Advisors holds 12,758K shares representing 25.75% ownership of the company. In it's prior filing, the firm reported owning 9,147K shares, representing an increase of 28.30%. The firm increased its portfolio allocation in LYRA by 179.60% over the last quarter.
Armistice Capital holds 4,012K shares representing 8.10% ownership of the company.
Nantahala Capital Management holds 3,958K shares representing 7.99% ownership of the company. In it's prior filing, the firm reported owning 2,221K shares, representing an increase of 43.88%. The firm increased its portfolio allocation in LYRA by 359.85% over the last quarter.
Citadel Advisors holds 2,849K shares representing 5.75% ownership of the company. In it's prior filing, the firm reported owning 8K shares, representing an increase of 99.72%. The firm increased its portfolio allocation in LYRA by 66,921.13% over the last quarter.
Samsara BioCapital holds 2,780K shares representing 5.61% ownership of the company. In it's prior filing, the firm reported owning 1,777K shares, representing an increase of 36.08%. The firm increased its portfolio allocation in LYRA by 171.65% over the last quarter.
Lyra Therapeutics Background Information
(This description is provided by the company.)
Lyra Therapeutics, Inc. is a clinical-stage therapeutics company focused on the development and commercialization of novel integrated drug and delivery solutions for the localized treatment of patients with ear, nose and throat (ENT) diseases. The company's lead product candidate, LYR-210, is designed to deliver up to six months of continuous anti-inflammatory drug therapy to the sinonasal passages for the treatment of chronic rhinosinusitis (CRS) in patients who have not undergone surgery for the disease. Lyra is also developing LYR-220 for CRS patients who have undergone a prior surgery and have persistent disease. Beyond CRS, the company believes its XTreo™ platform, comprised of drug administered through a bioresorbable polymeric matrix, has the potential to address other disease areas by precisely, consistently and locally delivering medicines for sustained periods with a single administration.
Additional reading:
- Disclaimer This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this presentation that do not relate to matters of historical fact should be cons
- Lyra Therapeutics Reports Second Quarter 2023 Financial Results and Provides Corporate Update -- ENLIGHTEN I Pivotal Phase 3 Trial of LYR-210 in Pre-Surgical Chronic Rhinosinusitis (CRS) on Track to Complete Enrollment in the Coming Weeks, with Data
- Seventh Amendment to Lease, dated July 12, 2023, by and between Lyra Therapeutics, Inc. and ARE-480 Arsenal Street, LLC.
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