FY2024 EPS Forecast for Spyre Therapeutics Lifted by Analyst

Spyre Therapeutics, Inc. (NASDAQ:SYRE - Free Report) - Lifesci Capital upped their FY2024 earnings estimates for shares of Spyre Therapeutics in a research report issued to clients and investors on Tuesday, January 14th. Lifesci Capital analyst S. Slutsky now expects that the company will earn ($4.33) per share for the year, up from their prior forecast of ($4.41). The consensus estimate for Spyre Therapeutics' current full-year earnings is ($4.48) per share. Lifesci Capital also issued estimates for Spyre Therapeutics' Q4 2024 earnings at ($0.94) EPS and FY2025 earnings at ($3.22) EPS.

Other analysts have also issued reports about the company. Wedbush reissued an "outperform" rating and issued a $65.00 price objective on shares of Spyre Therapeutics in a report on Monday. Robert W. Baird boosted their price target on Spyre Therapeutics from $50.00 to $65.00 and gave the company an "outperform" rating in a report on Wednesday, November 13th. Finally, Guggenheim raised their price objective on Spyre Therapeutics from $50.00 to $65.00 and gave the stock a "buy" rating in a research note on Friday, October 25th. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $54.83.

Spyre Therapeutics Stock Down 5.1 %

Shares of SYRE traded down $1.11 during midday trading on Thursday, hitting $20.55. The company had a trading volume of 715,277 shares, compared to its average volume of 578,768. Spyre Therapeutics has a 52 week low of $20.07 and a 52 week high of $47.97. The company's 50 day moving average price is $26.50 and its 200 day moving average price is $28.11. The stock has a market cap of $1.06 billion, a price-to-earnings ratio of -2.75 and a beta of 2.86.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SYRE. Amalgamated Bank acquired a new stake in Spyre Therapeutics in the second quarter worth $28,000. Quest Partners LLC acquired a new stake in shares of Spyre Therapeutics in the 2nd quarter worth about $36,000. Intech Investment Management LLC bought a new stake in Spyre Therapeutics in the 3rd quarter valued at about $246,000. Profund Advisors LLC bought a new stake in Spyre Therapeutics in the 2nd quarter valued at about $296,000. Finally, SG Americas Securities LLC boosted its stake in Spyre Therapeutics by 127.0% during the 3rd quarter. SG Americas Securities LLC now owns 12,589 shares of the company's stock valued at $370,000 after purchasing an additional 7,044 shares during the period. Institutional investors and hedge funds own 80.39% of the company's stock.

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).