LIAN - Lyra Therapeutics initiated with an overweight rating at Cantor Fitzgerald; sees 147% upside

Cantor Fitzgerald initiated Lyra Therapeutics (NASDAQ:LYRA) with an overweight rating saying the company's pipeline is not appreciated enough. The firm has a $15 price target (~147% upside based on Monday's close). Analyst Louise Chen highlighted two candidates in particular, LYR-210 and LYR-220, both long-acting formulations of mometasone furoate for chronic rhinosinusitis. Chen said that LYR-210, in phase 3, is appealing as it could reduce the number and frequency of costly surgical and biologic treatment options. She added that LYR-220, in phase 2, could be an alternative to revision surgery. Also, Lyra (LYRA) has a partnership and license agreement for LYR-210 in Greater China, South Korea, Singapore, and Thailand with LianBio (LIAN). Seeking Alpha contributor Sage Advisors views Lyra (LYRA) as a hold.

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Lyra Therapeutics initiated with an overweight rating at Cantor Fitzgerald; sees 147% upside