Spyre Therapeutics, Inc. (NASDAQ:SYRE) Given Consensus Recommendation of “Buy” by Analysts

Spyre Therapeutics, Inc. (NASDAQ:SYRE) has received a consensus rating of “Buy” from the seven brokerages that are currently covering the company, Marketbeat reports. Seven equities research analysts have rated the stock with a buy recommendation. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $54.83.

Several brokerages have recently weighed in on SYRE. Robert W. Baird upped their target price on shares of Spyre Therapeutics from $50.00 to $65.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Guggenheim raised their target price on Spyre Therapeutics from $50.00 to $65.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Finally, Wedbush reiterated an “outperform” rating and issued a $65.00 price target on shares of Spyre Therapeutics in a research note on Monday, January 13th.

Institutional Investors Weigh In On Spyre Therapeutics

A number of institutional investors have recently modified their holdings of SYRE. Huntington National Bank bought a new position in Spyre Therapeutics in the 4th quarter worth approximately $34,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Spyre Therapeutics in the fourth quarter worth about $46,000. Quest Partners LLC increased its stake in Spyre Therapeutics by 271.2% during the 3rd quarter. Quest Partners LLC now owns 5,654 shares of the company’s stock valued at $166,000 after buying an additional 4,131 shares during the period. KLP Kapitalforvaltning AS bought a new stake in shares of Spyre Therapeutics during the 4th quarter worth about $182,000. Finally, Intech Investment Management LLC acquired a new stake in shares of Spyre Therapeutics in the 3rd quarter worth approximately $246,000. Institutional investors own 80.39% of the company’s stock.

Spyre Therapeutics Trading Up 1.1 %

Shares of SYRE stock opened at $22.92 on Monday. Spyre Therapeutics has a 52 week low of $20.07 and a 52 week high of $47.97. The company has a market cap of $1.18 billion, a PE ratio of -3.07 and a beta of 2.85. The company’s fifty day simple moving average is $23.11 and its 200-day simple moving average is $27.13.

About Spyre Therapeutics

Spyre Therapeutics, Inc, a preclinical stage biotechnology company, focuses on developing therapeutics for patients living with inflammatory bowel disease (IBD). It develops SPY001, a human monoclonal immunoglobulin G1 antibody designed to bind selectively to the a4ß7 integrin being developed for the treatment of IBD (ulcerative colitis and Crohn's disease).