Spyre Therapeutics, Inc. (NASDAQ:SYRE) Given Average Rating of "Buy" by Analysts

Shares of Spyre Therapeutics, Inc. (NASDAQ:SYRE - Get Free Report) have earned a consensus rating of "Buy" from the ten analysts that are presently covering the company, MarketBeat reports. Ten investment analysts have rated the stock with a buy recommendation. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $46.43.

SYRE has been the subject of a number of research analyst reports. Guggenheim raised their price target on Spyre Therapeutics from $50.00 to $65.00 and gave the stock a "buy" rating in a research note on Friday, October 25th. Wedbush reiterated an "outperform" rating and set a $45.00 target price on shares of Spyre Therapeutics in a research report on Friday. Finally, Evercore ISI assumed coverage on shares of Spyre Therapeutics in a research note on Tuesday, July 16th. They set an "outperform" rating for the company.

Spyre Therapeutics Stock Performance

NASDAQ SYRE traded up $1.89 on Friday, hitting $39.58. 428,878 shares of the stock were exchanged, compared to its average volume of 410,464. Spyre Therapeutics has a 52-week low of $8.43 and a 52-week high of $47.97. The firm has a market capitalization of $2.02 billion, a P/E ratio of -2.56 and a beta of 2.90. The stock has a fifty day moving average price of $30.76 and a two-hundred day moving average price of $30.37.

Spyre Therapeutics (NASDAQ:SYRE - Get Free Report) last announced its earnings results on Wednesday, August 7th. The company reported ($0.86) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.90) by $0.04. Sell-side analysts expect that Spyre Therapeutics will post -4.18 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Spyre Therapeutics

Several hedge funds have recently modified their holdings of SYRE. Driehaus Capital Management LLC purchased a new stake in shares of Spyre Therapeutics during the 2nd quarter worth $16,153,000. Ensign Peak Advisors Inc purchased a new stake in shares of Spyre Therapeutics during the second quarter valued at about $1,939,000. Bank of New York Mellon Corp bought a new stake in shares of Spyre Therapeutics in the 2nd quarter valued at about $2,767,000. Rhumbline Advisers bought a new stake in shares of Spyre Therapeutics in the 2nd quarter valued at about $1,220,000. Finally, Assenagon Asset Management S.A. purchased a new position in shares of Spyre Therapeutics in the 3rd quarter worth approximately $33,609,000. Hedge funds and other institutional investors 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).