Spyre Therapeutics, Inc. (NASDAQ:SYRE) Receives Average Recommendation of “Buy” from Analysts

Spyre Therapeutics, Inc. (NASDAQ:SYRE) has been given an average rating of “Buy” by the ten brokerages that are currently covering the stock, MarketBeat reports. Eight research analysts have rated the stock with a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $49.57.

SYRE has been the subject of a number of research analyst reports. Wolfe Research started coverage on Spyre Therapeutics in a research report on Tuesday, March 18th. They issued an “outperform” rating and a $27.00 target price for the company. Leerink Partnrs upgraded shares of Spyre Therapeutics to a “strong-buy” rating in a report on Tuesday, April 8th. The Goldman Sachs Group upgraded shares of Spyre Therapeutics to a “strong-buy” rating in a report on Tuesday, February 18th. Wedbush restated an “outperform” rating and issued a $65.00 target price on shares of Spyre Therapeutics in a report on Monday, January 13th. Finally, Leerink Partners initiated coverage on Spyre Therapeutics in a research note on Tuesday, April 8th. They set an “outperform” rating and a $45.00 price target for the company.

Hedge Funds Weigh In On Spyre Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Emerald Mutual Fund Advisers Trust lifted its holdings in Spyre Therapeutics by 0.8% during the first quarter. Emerald Mutual Fund Advisers Trust now owns 389,422 shares of the company’s stock worth $6,283,000 after acquiring an additional 3,038 shares during the period. Bank of New York Mellon Corp increased its position in shares of Spyre Therapeutics by 10.2% during the 1st quarter. Bank of New York Mellon Corp now owns 114,240 shares of the company’s stock valued at $1,843,000 after purchasing an additional 10,552 shares during the last quarter. GAMMA Investing LLC bought a new stake in shares of Spyre Therapeutics during the 1st quarter worth $70,000. Wellington Management Group LLP boosted its holdings in shares of Spyre Therapeutics by 6.5% in the 4th quarter. Wellington Management Group LLP now owns 1,604,508 shares of the company’s stock worth $37,353,000 after buying an additional 97,308 shares during the last quarter. Finally, California State Teachers Retirement System raised its position in Spyre Therapeutics by 32.1% in the fourth quarter. California State Teachers Retirement System now owns 32,598 shares of the company’s stock worth $759,000 after acquiring an additional 7,923 shares during the period. Hedge funds and other institutional investors own 80.39% of the company’s stock.

Spyre Therapeutics Stock Performance

Shares of NASDAQ:SYRE opened at $15.11 on Friday. Spyre Therapeutics has a 52 week low of $10.91 and a 52 week high of $40.49. The firm has a market cap of $910.77 million, a PE ratio of -2.02 and a beta of 3.05. The firm’s fifty day moving average is $15.91 and its 200-day moving average is $22.81.

Spyre Therapeutics (NASDAQ:SYRE) last released its earnings results on Thursday, February 27th. The company reported ($0.81) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.89) by $0.08. Sell-side analysts forecast 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).