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

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

Spyre Therapeutics Price Performance

NASDAQ:SYRE traded up $1.33 during midday trading on Friday, hitting $19.70. The company’s stock had a trading volume of 651,522 shares, compared to its average volume of 601,152. Spyre Therapeutics has a fifty-two week low of $18.26 and a fifty-two week high of $47.97. The firm’s 50 day moving average is $22.45 and its 200-day moving average is $26.83. The firm has a market cap of $1.01 billion, a P/E ratio of -2.64 and a beta of 2.85.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Wedbush reissued an “outperform” rating and set a $65.00 price target on shares of Spyre Therapeutics in a research report on Monday, January 13th. Robert W. Baird increased their price objective on shares of Spyre Therapeutics from $50.00 to $65.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Finally, The Goldman Sachs Group raised shares of Spyre Therapeutics to a “strong-buy” rating in a research report on Tuesday, February 18th. Seven analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average 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).