Spyre Therapeutics, Inc. (NASDAQ:SYRE) Receives $54.83 Consensus Target Price from Analysts

Shares of Spyre Therapeutics, Inc. (NASDAQ:SYRE) have been given an average recommendation of “Buy” by the nine brokerages that are presently covering the stock, Marketbeat.com reports. Eight research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $50.86.

Several brokerages have recently commented on SYRE. Wedbush reaffirmed an “outperform” rating and set a $65.00 target price on shares of Spyre Therapeutics in a report on Monday, January 13th. Wolfe Research initiated coverage on shares of Spyre Therapeutics in a research note on Tuesday. They set an “outperform” rating and a $27.00 price objective for the company. Finally, The Goldman Sachs Group upgraded shares of Spyre Therapeutics to a “strong-buy” rating in a report on Tuesday, February 18th.

Hedge Funds Weigh In On Spyre Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Spyre Therapeutics by 4.2% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,741 shares of the company’s stock worth $527,000 after purchasing an additional 916 shares in the last quarter. GF Fund Management CO. LTD. acquired a new position in Spyre Therapeutics in the 4th quarter valued at approximately $29,000. MetLife Investment Management LLC increased its stake in Spyre Therapeutics by 6.2% in the 4th quarter. MetLife Investment Management LLC now owns 21,382 shares of the company’s stock valued at $498,000 after buying an additional 1,250 shares during the period. Huntington National Bank purchased a new stake in Spyre Therapeutics in the 4th quarter worth approximately $34,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Spyre Therapeutics during the 4th quarter valued at $46,000. Hedge funds and other institutional investors own 80.39% of the company’s stock.

Spyre Therapeutics Price Performance

SYRE stock opened at $17.91 on Friday. The firm has a market cap of $1.08 billion, a PE ratio of -2.40 and a beta of 2.98. Spyre Therapeutics has a 12 month low of $17.24 and a 12 month high of $43.00. The firm has a 50 day simple moving average of $21.17 and a 200 day simple moving average of $26.12.

Spyre Therapeutics (NASDAQ:SYRE) last announced its quarterly earnings data on Thursday, February 27th. The company reported ($0.81) EPS for the quarter, beating 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 year.

About Spyre Therapeutics

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).