Spyre Therapeutics (NASDAQ:SYRE) Issues Quarterly Earnings Results

Spyre Therapeutics (NASDAQ:SYRE) announced its quarterly earnings data on Thursday. The company reported ($0.81) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.89) by $0.08, Zacks reports.

Spyre Therapeutics Trading Up 7.2 %

Shares of NASDAQ:SYRE traded up $1.33 during mid-day trading on Friday, reaching $19.70. The stock had a trading volume of 651,522 shares, compared to its average volume of 601,152. The company has a market cap of $1.01 billion, a P/E ratio of -2.64 and a beta of 2.85. Spyre Therapeutics has a 1 year low of $18.26 and a 1 year high of $47.97. The business’s 50 day moving average price is $22.45 and its 200 day moving average price is $26.83.

Analyst Ratings Changes

Several equities analysts recently weighed in on SYRE shares. Wedbush reaffirmed an “outperform” rating and set a $65.00 target price on shares of Spyre Therapeutics in a research note on Monday, January 13th. Robert W. Baird increased their price objective on shares of Spyre Therapeutics from $50.00 to $65.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Finally, The Goldman Sachs Group raised Spyre Therapeutics to a “strong-buy” rating in a report on Tuesday, February 18th. Seven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Spyre Therapeutics presently has an average rating of “Buy” and an average 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).