Research Analysts Offer Predictions for SYRE FY2024 Earnings

Spyre Therapeutics, Inc. (NASDAQ:SYRE) – Equities researchers at Lifesci Capital raised their FY2024 earnings per share estimates for shares of Spyre Therapeutics in a research report issued on Tuesday, January 14th. Lifesci Capital analyst S. Slutsky now forecasts that the company will post earnings of ($4.33) per share for the year, up from their prior estimate of ($4.41). The consensus estimate for Spyre Therapeutics’ current full-year earnings is ($4.48) per share. Lifesci Capital also issued estimates for Spyre Therapeutics’ Q4 2024 earnings at ($0.94) EPS and FY2025 earnings at ($3.22) EPS.

Other research analysts have also recently issued research reports about the stock. Wedbush restated an “outperform” rating and set a $65.00 target price on shares of Spyre Therapeutics in a research note on Monday. Guggenheim raised their price target on Spyre Therapeutics from $50.00 to $65.00 and gave the company a “buy” rating in a report on Friday, October 25th. Finally, Robert W. Baird boosted their price objective on Spyre Therapeutics from $50.00 to $65.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat, Spyre Therapeutics presently has a consensus rating of “Buy” and a consensus target price of $54.83.

Spyre Therapeutics Price Performance

Shares of NASDAQ:SYRE opened at $20.55 on Thursday. The company has a market capitalization of $1.06 billion, a P/E ratio of -2.75 and a beta of 2.86. Spyre Therapeutics has a 1-year low of $20.07 and a 1-year high of $47.97. The firm’s 50 day simple moving average is $26.50 and its two-hundred day simple moving average is $28.11.

Institutional Trading of Spyre Therapeutics

Several hedge funds have recently bought and sold shares of SYRE. FMR LLC lifted its position in shares of Spyre Therapeutics by 1.5% in the third quarter. FMR LLC now owns 7,623,881 shares of the company’s stock worth $224,218,000 after buying an additional 115,898 shares in the last quarter. Perceptive Advisors LLC raised its holdings in shares of Spyre Therapeutics by 18.6% during the 2nd quarter. Perceptive Advisors LLC now owns 3,031,018 shares of the company’s stock worth $71,259,000 after acquiring an additional 474,339 shares in the last quarter. Avoro Capital Advisors LLC bought a new position in shares of Spyre Therapeutics during the 2nd quarter valued at approximately $43,238,000. State Street Corp grew its holdings in shares of Spyre Therapeutics by 9.4% in the third quarter. State Street Corp now owns 1,541,555 shares of the company’s stock valued at $45,337,000 after purchasing an additional 131,896 shares in the last quarter. Finally, Wellington Management Group LLP increased its position in Spyre Therapeutics by 89.4% in the third quarter. Wellington Management Group LLP now owns 1,507,200 shares of the company’s stock worth $44,327,000 after purchasing an additional 711,254 shares during the last quarter. 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).