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

Shares of Spyre Therapeutics, Inc. (NASDAQ:SYRE) have received a consensus recommendation of “Buy” from the eight ratings firms that are currently covering the stock, Marketbeat Ratings reports. Seven research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $50.33.

Several research firms have recently commented on SYRE. The Goldman Sachs Group upgraded shares of Spyre Therapeutics to a “strong-buy” rating in a report on Tuesday, February 18th. Wolfe Research began coverage on shares of Spyre Therapeutics in a research note on Tuesday, March 18th. They issued an “outperform” rating and a $27.00 price objective for the company. Finally, Wedbush reaffirmed an “outperform” rating and set a $65.00 target price on shares of Spyre Therapeutics in a research report on Monday, January 13th.

Spyre Therapeutics Stock Down 3.1 %

SYRE opened at $12.39 on Tuesday. Spyre Therapeutics has a 52 week low of $11.60 and a 52 week high of $40.84. The company has a market capitalization of $746.58 million, a P/E ratio of -1.66 and a beta of 3.05. The stock’s fifty day moving average is $19.69 and its two-hundred day moving average is $24.93.

Spyre Therapeutics (NASDAQ:SYRE) last announced its quarterly earnings results on Thursday, February 27th. The company reported ($0.81) EPS for the quarter, beating the consensus estimate of ($0.89) by $0.08. Equities analysts anticipate that Spyre Therapeutics will post -4.46 earnings per share for the current year.

Institutional Trading of Spyre Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in SYRE. GF Fund Management CO. LTD. acquired a new position in Spyre Therapeutics during the 4th quarter valued at about $29,000. Huntington National Bank purchased a new stake in shares of Spyre Therapeutics during the fourth quarter worth about $34,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Spyre Therapeutics during the fourth quarter worth about $46,000. GAMMA Investing LLC acquired a new position in shares of Spyre Therapeutics during the first quarter valued at about $70,000. Finally, KLP Kapitalforvaltning AS purchased a new position in shares of Spyre Therapeutics in the 4th quarter valued at approximately $182,000. Hedge funds and other institutional investors own 80.39% of the company’s stock.

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).