Strength Seen in Lyra Therapeutics, Inc. (LYRA): Can Its 6.9% Jump Turn into More Strength?
Lyra Therapeutics, Inc. (LYRA) shares rallied 6.9% in the last trading session to close at $5.30. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 1.4% gain over the past four weeks.
The sudden surge in the stock price can be attributed to positive investor mindset regarding the company's pipeline candidates. Lyra is currently developing two candidates, for post-surgical and surgically-naive patients with chronic rhinosinusitis, in separate clinical studies.
This company is expected to post quarterly loss of $0.33 per share in its upcoming report, which represents a year-over-year change of +8.3%. Revenues are expected to be $0.52 million, up 5100% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Lyra Therapeutics, Inc., the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on LYRA going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Lyra Therapeutics, Inc. belongs to the Zacks Medical - Drugs industry. Another stock from the same industry, 4D Molecular Therapeutics, Inc. (FDMT), closed the last trading session 3.9% higher at $27.19. Over the past month, FDMT has returned 37.2%.
4D Molecular Therapeutics, Inc.'s consensus EPS estimate for the upcoming report has changed +12.7% over the past month to -$0.68. Compared to the company's year-ago EPS, this represents a change of +19.1%. 4D Molecular Therapeutics, Inc. currently boasts a Zacks Rank of #3 (Hold).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Lyra Therapeutics, Inc. (LYRA) : Free Stock Analysis Report
4D Molecular Therapeutics, Inc. (FDMT) : Free Stock Analysis Report
