HC Wainwright & Co. Downgrades Lyra Therapeutics to Neutral, Announces $2 Price Target
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HC Wainwright & Co. analyst Matthew Caufield downgraded Lyra Therapeutics (NASDAQ:LYRA) from Buy to Neutral and set a new price target of $2.
May 07, 2024 | 1:48 pm
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NEGATIVE IMPACT
Lyra Therapeutics was downgraded by HC Wainwright & Co. from Buy to Neutral with a new price target of $2.
Analyst downgrades typically lead to a negative short-term impact on the stock price as they reflect a less optimistic view on the company's future performance. The setting of a $2 price target, depending on the previous target and current price, could imply a significant adjustment in expected value, further influencing investor sentiment and potentially leading to a decrease in stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100