Spyre Therapeutics (NASDAQ:SYRE) Announces Quarterly Earnings Results

Spyre Therapeutics (NASDAQ:SYRE) issued its quarterly earnings results on Thursday. The company reported ($0.81) earnings per share for the quarter, beating the consensus estimate of ($0.89) by $0.08, Zacks reports.

Spyre Therapeutics Stock Up 7.2 %

Shares of SYRE stock traded up $1.33 on Friday, reaching $19.70. 651,522 shares of the stock were exchanged, compared to its average volume of 601,152. The stock has a market cap of $1.01 billion, a P/E ratio of -2.64 and a beta of 2.85. The firm has a 50 day moving average of $22.45 and a two-hundred day moving average of $26.83. Spyre Therapeutics has a 1-year low of $18.26 and a 1-year high of $47.97.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Wedbush reiterated an “outperform” rating and issued a $65.00 price target on shares of Spyre Therapeutics in a report on Monday, January 13th. The Goldman Sachs Group upgraded Spyre Therapeutics to a “strong-buy” rating in a report on Tuesday, February 18th. Finally, Robert W. Baird upped their price objective on Spyre Therapeutics from $50.00 to $65.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Seven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Spyre Therapeutics currently has an average rating of “Buy” and a consensus price target of $54.83.

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).