Spyre Therapeutics, Inc. (NASDAQ:SYRE) Receives $43.43 Consensus Target Price from Analysts

Shares of Spyre Therapeutics, Inc. (NASDAQ:SYRE) have earned a consensus rating of “Buy” from the ten brokerages that are currently covering the firm, Marketbeat reports. Ten equities research analysts have rated the stock with a buy rating. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $43.43.

SYRE has been the topic of several recent research reports. Wedbush started coverage on shares of Spyre Therapeutics in a research note on Wednesday, September 4th. They set an “outperform” rating and a $45.00 target price on the stock. Evercore ISI started coverage on Spyre Therapeutics in a research note on Tuesday, July 16th. They issued an “outperform” rating on the stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Driehaus Capital Management LLC acquired a new position in Spyre Therapeutics in the second quarter valued at approximately $16,153,000. Ensign Peak Advisors Inc acquired a new position in shares of Spyre Therapeutics in the 2nd quarter valued at $1,939,000. Bank of New York Mellon Corp purchased a new position in shares of Spyre Therapeutics in the 2nd quarter valued at $2,767,000. Rhumbline Advisers acquired a new stake in Spyre Therapeutics during the 2nd quarter worth $1,220,000. Finally, Armistice Capital LLC purchased a new stake in Spyre Therapeutics in the second quarter valued at $3,197,000. Hedge funds and other institutional investors own 80.39% of the company’s stock.

Spyre Therapeutics Trading Down 1.0 %

Shares of NASDAQ:SYRE opened at $32.43 on Tuesday. The business has a 50-day moving average price of $28.25 and a 200 day moving average price of $30.47. Spyre Therapeutics has a 12-month low of $8.43 and a 12-month high of $47.97. The company has a market capitalization of $1.31 billion, a price-to-earnings ratio of -0.45 and a beta of 2.92.

Spyre Therapeutics (NASDAQ:SYRE) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($0.86) EPS for the quarter, topping the consensus estimate of ($0.90) by $0.04. As a group, equities research analysts predict that Spyre Therapeutics will post -3.68 earnings per share for the current fiscal year.

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).