Lifesci Capital Has Positive Outlook of SYRE FY2024 Earnings

Spyre Therapeutics, Inc. (NASDAQ:SYRE) – Research analysts at Lifesci Capital upped their FY2024 earnings per share (EPS) estimates for Spyre Therapeutics in a research report issued on Tuesday, January 14th. Lifesci Capital analyst S. Slutsky now forecasts that the company will post earnings per share of ($4.33) for the year, up from their previous forecast of ($4.41). The consensus estimate for Spyre Therapeutics’ current full-year earnings is ($4.48) per share. Lifesci Capital also issued estimates for Spyre Therapeutics’ Q4 2024 earnings at ($0.94) EPS and FY2025 earnings at ($3.22) EPS.

Several other analysts have also recently weighed in on the stock. Robert W. Baird lifted their price target on shares of Spyre Therapeutics from $50.00 to $65.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Guggenheim lifted their target price on shares of 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 reissued an “outperform” rating and issued a $65.00 price target on shares of Spyre Therapeutics in a research note on Monday. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $54.83.

Spyre Therapeutics Stock Performance

Shares of SYRE stock opened at $20.55 on Thursday. The firm has a market cap of $1.06 billion, a P/E ratio of -2.75 and a beta of 2.86. The business’s 50 day moving average price is $26.50 and its 200-day moving average price is $28.11. Spyre Therapeutics has a fifty-two week low of $20.07 and a fifty-two week high of $47.97.

Hedge Funds Weigh In On Spyre Therapeutics

A number of hedge funds have recently bought and sold shares of the company. Avoro Capital Advisors LLC bought a new stake in Spyre Therapeutics during the 2nd quarter valued at about $43,238,000. Assenagon Asset Management S.A. bought a new stake in shares of Spyre Therapeutics during the third quarter valued at approximately $33,609,000. Wellington Management Group LLP raised its holdings in Spyre Therapeutics by 89.4% in the 3rd quarter. Wellington Management Group LLP now owns 1,507,200 shares of the company’s stock worth $44,327,000 after acquiring an additional 711,254 shares during the last quarter. Driehaus Capital Management LLC bought a new position in Spyre Therapeutics in the 2nd quarter valued at approximately $16,153,000. Finally, Farallon Capital Management LLC bought a new position in Spyre Therapeutics in the 2nd quarter valued at approximately $15,658,000. Institutional investors own 80.39% of the company’s stock.

Spyre Therapeutics Company Profile

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).