Spyre Therapeutics (NASDAQ:SYRE) Coverage Initiated at Wolfe Research

Equities research analysts at Wolfe Research assumed coverage on shares of Spyre Therapeutics (NASDAQ:SYRE) in a research note issued to investors on Tuesday,Briefing.com Automated Import reports. The firm set an “outperform” rating and a $27.00 price target on the stock. Wolfe Research’s price target indicates a potential upside of 45.63% from the company’s current price.

Several other equities analysts have also recently issued reports on SYRE. The Goldman Sachs Group upgraded shares of Spyre Therapeutics to a “strong-buy” rating in a research report on Tuesday, February 18th. Wedbush reiterated an “outperform” rating and set a $65.00 target price on shares of Spyre Therapeutics in a report on Monday, January 13th. Eight analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $50.86.

Spyre Therapeutics Stock Up 2.8 %

Shares of Spyre Therapeutics stock opened at $18.54 on Tuesday. The company’s fifty day simple moving average is $21.29 and its two-hundred day simple moving average is $26.20. Spyre Therapeutics has a 12-month low of $17.24 and a 12-month high of $47.97. The firm has a market cap of $1.12 billion, a PE ratio of -2.48 and a beta of 2.98.

Spyre Therapeutics (NASDAQ:SYRE) last announced its quarterly earnings results on Thursday, February 27th. The company reported ($0.81) EPS for the quarter, topping analysts’ consensus estimates of ($0.89) by $0.08. As a group, sell-side analysts expect that Spyre Therapeutics will post -4.46 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Spyre Therapeutics

Large investors have recently bought and sold shares of the business. GF Fund Management CO. LTD. bought a new position in Spyre Therapeutics during the 4th quarter valued at about $29,000. Huntington National Bank purchased a new position in shares of Spyre Therapeutics during the fourth quarter valued at approximately $34,000. Mirae Asset Global Investments Co. Ltd. bought a new position in Spyre Therapeutics during the fourth quarter valued at approximately $46,000. Quest Partners LLC boosted its holdings in Spyre Therapeutics by 271.2% in the third quarter. Quest Partners LLC now owns 5,654 shares of the company’s stock worth $166,000 after purchasing an additional 4,131 shares during the last quarter. Finally, KLP Kapitalforvaltning AS bought a new stake in Spyre Therapeutics in the 4th quarter worth approximately $182,000. 80.39% of the stock is currently owned by institutional investors.

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).