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

Shares of Spyre Therapeutics, Inc. (NASDAQ:SYRE) have earned an average rating of “Buy” from the seven analysts that are currently covering the company, Marketbeat reports. Seven analysts have rated the stock with a buy rating. The average 12 month price target among brokerages that have covered the stock in the last year is $54.83.

Several equities research analysts have recently commented on the stock. Wedbush reissued an “outperform” rating and set a $65.00 target price on shares of Spyre Therapeutics in a research report on Monday, January 13th. Robert W. Baird boosted their target price on shares of Spyre Therapeutics from $50.00 to $65.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Finally, Guggenheim boosted their target price on shares of Spyre Therapeutics from $50.00 to $65.00 and gave the stock a “buy” rating in a research report on Friday, October 25th.

Spyre Therapeutics Trading Up 0.5 %

Shares of NASDAQ SYRE opened at $21.90 on Thursday. The firm’s 50-day moving average price is $24.20 and its 200-day moving average price is $27.75. Spyre Therapeutics has a 1-year low of $20.07 and a 1-year high of $47.97. The firm has a market capitalization of $1.13 billion, a P/E ratio of -2.93 and a beta of 2.86.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of SYRE. Amalgamated Bank bought a new position in shares of Spyre Therapeutics during the 2nd quarter valued at approximately $28,000. Ensign Peak Advisors Inc bought a new position in shares of Spyre Therapeutics during the 2nd quarter valued at approximately $1,939,000. Profund Advisors LLC purchased a new stake in shares of Spyre Therapeutics during the 2nd quarter valued at approximately $296,000. Affinity Asset Advisors LLC purchased a new stake in shares of Spyre Therapeutics during the 2nd quarter valued at approximately $12,071,000. Finally, Armistice Capital LLC purchased a new stake in shares of Spyre Therapeutics during the 2nd quarter valued at approximately $3,197,000. 80.39% of the stock is owned by institutional investors.

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).