Spyre Therapeutics (NASDAQ:SYRE) Shares Up 4%

Spyre Therapeutics, Inc. (NASDAQ:SYRE)’s stock price rose 4% during trading on Wednesday . The company traded as high as $28.50 and last traded at $28.12. Approximately 41,273 shares traded hands during mid-day trading, a decline of 92% from the average daily volume of 524,131 shares. The stock had previously closed at $27.04.

Analysts Set New Price Targets

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

Spyre Therapeutics Trading Up 0.9 %

The stock has a 50 day moving average of $31.39 and a 200-day moving average of $30.49.

Spyre Therapeutics (NASDAQ:SYRE) last issued its earnings results on Monday, May 13th. The company reported ($1.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.90) by ($0.30). On average, analysts anticipate that Spyre Therapeutics, Inc. will post -3.82 earnings per share for the current fiscal 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).