Spyre Therapeutics, Inc. (NASDAQ:SYRE) Given Average Recommendation of “Buy” by Brokerages

Shares of Spyre Therapeutics, Inc. (NASDAQ:SYRE) have received an average rating of “Buy” from the eight analysts that are presently covering the firm, Marketbeat Ratings reports. Seven investment analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $50.33.

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

Spyre Therapeutics Stock Performance

Spyre Therapeutics stock opened at $12.39 on Tuesday. The business’s 50-day simple moving average is $19.69 and its two-hundred day simple moving average is $24.93. The company has a market cap of $746.58 million, a PE ratio of -1.66 and a beta of 3.05. Spyre Therapeutics has a fifty-two week low of $11.60 and a fifty-two week high of $40.84.

Spyre Therapeutics (NASDAQ:SYRE) last issued its earnings results 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, analysts predict that Spyre Therapeutics will post -4.46 EPS for the current fiscal year.

Hedge Funds Weigh In On Spyre Therapeutics

Large investors have recently added to or reduced their stakes in the stock. GF Fund Management CO. LTD. purchased a new stake in shares of Spyre Therapeutics during the fourth quarter worth about $29,000. Huntington National Bank acquired a new stake in Spyre Therapeutics in the 4th quarter worth about $34,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Spyre Therapeutics during the 4th quarter worth approximately $46,000. GAMMA Investing LLC acquired a new position in shares of Spyre Therapeutics during the first quarter valued at approximately $70,000. Finally, KLP Kapitalforvaltning AS purchased a new position in shares of Spyre Therapeutics in the fourth quarter valued at approximately $182,000. 80.39% of the stock is currently owned by institutional investors and hedge funds.

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).