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

Shares of Spyre Therapeutics, Inc. (NASDAQ:SYRE) have been assigned an average rating of “Buy” from the nine ratings firms that are presently covering the stock, Marketbeat reports. Eight equities research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $50.86.

A number of equities research analysts have issued reports on SYRE shares. Wedbush reiterated an “outperform” rating and issued a $65.00 target price on shares of Spyre Therapeutics in a research note on Monday, January 13th. Wolfe Research began coverage on shares of Spyre Therapeutics in a report on Tuesday. They issued an “outperform” rating and a $27.00 price objective on the stock. Finally, The Goldman Sachs Group raised shares of Spyre Therapeutics to a “strong-buy” rating in a research note on Tuesday, February 18th.

Institutional Trading of Spyre Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Spyre Therapeutics by 4.2% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,741 shares of the company’s stock valued at $527,000 after acquiring an additional 916 shares during the period. GF Fund Management CO. LTD. acquired a new position in shares of Spyre Therapeutics during the 4th quarter valued at $29,000. MetLife Investment Management LLC increased its position in shares of Spyre Therapeutics by 6.2% during the 4th quarter. MetLife Investment Management LLC now owns 21,382 shares of the company’s stock valued at $498,000 after purchasing an additional 1,250 shares during the period. Huntington National Bank bought a new stake in shares of Spyre Therapeutics in the 4th quarter worth $34,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Spyre Therapeutics in the fourth quarter valued at $46,000. 80.39% of the stock is currently owned by institutional investors.

Spyre Therapeutics Stock Down 3.4 %

Shares of NASDAQ SYRE opened at $17.91 on Friday. The firm’s 50-day moving average price is $21.17 and its two-hundred day moving average price is $26.12. Spyre Therapeutics has a 52-week low of $17.24 and a 52-week high of $43.00. The stock has a market capitalization of $1.08 billion, a P/E ratio of -2.40 and a beta of 2.98.

Spyre Therapeutics (NASDAQ:SYRE) last announced its quarterly earnings results on Thursday, February 27th. The company reported ($0.81) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.89) by $0.08. As a group, equities research analysts expect that Spyre Therapeutics will post -4.46 earnings per share for the current year.

About Spyre Therapeutics

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).