Spyre Therapeutics (NASDAQ:SYRE) Posts Earnings Results, Beats Expectations By $0.08 EPS

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

Spyre Therapeutics Trading Up 7.2 %

SYRE stock traded up $1.33 during midday 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’s fifty day simple moving average is $22.45 and its 200 day simple moving average is $26.83. The company has a market cap of $1.01 billion, a price-to-earnings ratio of -2.64 and a beta of 2.85. Spyre Therapeutics has a 52-week low of $18.26 and a 52-week high of $47.97.

Analyst Upgrades and Downgrades

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