Spyre Therapeutics (NASDAQ:SYRE) Shares Gap Up to $23.79

Spyre Therapeutics, Inc. (NASDAQ:SYRE) gapped up prior to trading on Wednesday . The stock had previously closed at $23.79, but opened at $24.41. Spyre Therapeutics shares last traded at $24.66, with a volume of 17,413 shares trading hands.

Analyst Ratings Changes

A number of analysts have issued reports on SYRE shares. Wells Fargo & Company raised their target price on Spyre Therapeutics from $35.00 to $40.00 and gave the stock an “overweight” rating in a research note on Monday, May 13th. Stifel Nicolaus raised their target price on Spyre Therapeutics from $36.00 to $54.00 and gave the stock a “buy” rating in a research note on Tuesday, March 26th. BTIG Research raised their target price on Spyre Therapeutics from $32.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday, May 10th. Finally, Robert W. Baird started coverage on Spyre Therapeutics in a research note on Thursday, May 2nd. They issued an “outperform” rating and a $50.00 target price for the company. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Spyre Therapeutics presently has a consensus rating of “Buy” and an average target price of $43.17.

Spyre Therapeutics Stock Performance

The business has a 50-day moving average of $32.13 and a 200-day moving average of $30.13. The stock has a market capitalization of $1.04 billion, a price-to-earnings ratio of -0.36 and a beta of 2.94.

Spyre Therapeutics (NASDAQ:SYRE) last announced its earnings results on Monday, May 13th. The company reported ($1.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.90) by ($0.30). Equities analysts predict that Spyre Therapeutics, Inc. will post -3.82 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).