Spyre Therapeutics, Inc. (NASDAQ:SYRE) Receives $43.43 Average Price Target from Brokerages

Spyre Therapeutics, Inc. (NASDAQ:SYRE) has been given an average rating of “Buy” by the ten ratings firms that are currently covering the firm, Marketbeat.com reports. Ten investment analysts have rated the stock with a buy recommendation. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $43.43.

SYRE has been the subject of several recent research reports. Wedbush began coverage on Spyre Therapeutics in a research report on Wednesday, September 4th. They issued an “outperform” rating and a $45.00 price objective for the company. Evercore ISI began coverage on shares of Spyre Therapeutics in a report on Tuesday, July 16th. They set an “outperform” rating for the company.

Institutional Investors Weigh In On Spyre Therapeutics

A number of large investors have recently modified their holdings of SYRE. Amalgamated Bank purchased a new stake in Spyre Therapeutics in the second quarter worth $28,000. Quest Partners LLC bought a new stake in shares of Spyre Therapeutics during the 2nd quarter valued at $36,000. SG Americas Securities LLC bought a new stake in shares of Spyre Therapeutics during the 2nd quarter valued at $130,000. Carlyle Group Inc. purchased a new stake in shares of Spyre Therapeutics in the 2nd quarter worth about $227,000. Finally, Profund Advisors LLC bought a new position in shares of Spyre Therapeutics in the 2nd quarter worth about $296,000. Institutional investors own 80.39% of the company’s stock.

Spyre Therapeutics Stock Down 0.8 %

Spyre Therapeutics stock opened at $30.17 on Friday. The firm has a fifty day simple moving average of $27.99 and a two-hundred day simple moving average of $31.89. Spyre Therapeutics has a twelve month low of $8.43 and a twelve month high of $47.97. The company has a market capitalization of $1.22 billion, a PE ratio of -0.42 and a beta of 2.92.

Spyre Therapeutics (NASDAQ:SYRE) last released its earnings results on Wednesday, August 7th. The company reported ($0.86) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.90) by $0.04. As a group, equities analysts expect that Spyre Therapeutics will post -3.68 earnings per share for the current fiscal 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).