Spyre Therapeutics (NASDAQ:SYRE) Releases Earnings Results, Beats Estimates By $0.08 EPS

Spyre Therapeutics (NASDAQ:SYRE) announced its quarterly earnings results on Thursday. The company reported ($0.81) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.89) by $0.08, Zacks reports.

Spyre Therapeutics Stock Up 7.2 %

NASDAQ:SYRE traded up $1.33 during trading hours on Friday, hitting $19.70. 651,522 shares of the stock traded hands, compared to its average volume of 601,152. The company has a market cap of $1.01 billion, a price-to-earnings ratio of -2.64 and a beta of 2.85. Spyre Therapeutics has a 1 year low of $18.26 and a 1 year high of $47.97. The stock has a 50 day moving average price of $22.45 and a 200 day moving average price of $26.83.

Analyst Ratings Changes

A number of research analysts have recently issued reports on SYRE shares. Robert W. Baird upped their price target on Spyre Therapeutics from $50.00 to $65.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. The Goldman Sachs Group upgraded Spyre Therapeutics to a “strong-buy” rating in a research report on Tuesday, February 18th. Finally, Wedbush reiterated an “outperform” rating and set a $65.00 price objective on shares of Spyre Therapeutics in a research report on Monday, January 13th. Seven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $54.83.

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).