Analysts Set Spyre Therapeutics, Inc. (NASDAQ:SYRE) Target Price at $54.83

Shares of Spyre Therapeutics, Inc. (NASDAQ:SYRE) have been assigned an average rating of “Buy” from the seven research firms that are covering the firm, MarketBeat Ratings reports. Seven analysts have rated the stock with a buy recommendation. The average twelve-month price target among brokers that have covered the stock in the last year is $54.83.

A number of analysts have recently issued reports on the stock. Wedbush restated an “outperform” rating and set a $65.00 target price on shares of Spyre Therapeutics in a research note on Monday, January 13th. Guggenheim raised their target price on shares of Spyre Therapeutics from $50.00 to $65.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Finally, Robert W. Baird raised their target price on shares of Spyre Therapeutics from $50.00 to $65.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th.

Hedge Funds Weigh In On Spyre Therapeutics

A number of hedge funds have recently bought and sold shares of the business. Amalgamated Bank bought a new stake in shares of Spyre Therapeutics during the 2nd quarter valued at approximately $28,000. Quest Partners LLC boosted its position in Spyre Therapeutics by 271.2% during the 3rd quarter. Quest Partners LLC now owns 5,654 shares of the company’s stock worth $166,000 after buying an additional 4,131 shares during the period. Intech Investment Management LLC acquired a new stake in Spyre Therapeutics during the 3rd quarter worth approximately $246,000. China Universal Asset Management Co. Ltd. acquired a new stake in Spyre Therapeutics during the 4th quarter worth approximately $290,000. Finally, Profund Advisors LLC acquired a new stake in Spyre Therapeutics during the 2nd quarter worth approximately $296,000. 80.39% of the stock is owned by institutional investors.

Spyre Therapeutics Stock Performance

NASDAQ:SYRE opened at $21.60 on Thursday. 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 $1.11 billion, a price-to-earnings ratio of -2.89 and a beta of 2.86. The firm’s 50-day moving average is $24.57 and its 200-day moving average is $27.90.

Spyre Therapeutics (NASDAQ:SYRE) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($1.36) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.80) by ($0.56). Equities analysts predict that Spyre Therapeutics will post -4.46 EPS for the current year.

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).