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

Spyre Therapeutics, Inc. (NASDAQ:SYRE - Get Free Report) has been assigned a consensus recommendation of "Buy" from the eight ratings firms that are presently covering the stock, Marketbeat Ratings reports. Seven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $54.83.

Several equities analysts recently weighed in on SYRE shares. The Goldman Sachs Group upgraded shares of Spyre Therapeutics to a "strong-buy" rating in a report on Tuesday, February 18th. Wedbush reissued an "outperform" rating and set a $65.00 target price on shares of Spyre Therapeutics in a research note on Monday, January 13th.

Spyre Therapeutics Trading Up 0.1 %

Shares of NASDAQ:SYRE traded up $0.01 on Friday, hitting $18.04. 416,114 shares of the company were exchanged, compared to its average volume of 552,802. The firm has a market capitalization of $1.09 billion, a P/E ratio of -2.41 and a beta of 2.98. Spyre Therapeutics has a 1-year low of $17.24 and a 1-year high of $47.97. The stock's 50 day moving average price is $21.54 and its 200 day moving average price is $26.35.

Spyre Therapeutics (NASDAQ:SYRE - Get Free Report) last announced its quarterly earnings data on Thursday, February 27th. The company reported ($0.81) earnings per share for the quarter, beating analysts' consensus estimates of ($0.89) by $0.08. On average, equities analysts predict that Spyre Therapeutics will post -4.46 EPS for the current fiscal year.

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Institutional Investors Weigh In On Spyre Therapeutics

Institutional investors have recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Spyre Therapeutics by 4.2% during 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 during the last quarter. GF Fund Management CO. LTD. purchased a new position in Spyre Therapeutics during the 4th quarter worth approximately $29,000. MetLife Investment Management LLC increased its position in Spyre Therapeutics by 6.2% during the fourth quarter. MetLife Investment Management LLC now owns 21,382 shares of the company's stock worth $498,000 after buying an additional 1,250 shares during the period. Huntington National Bank purchased a new stake in Spyre Therapeutics in the fourth quarter valued at approximately $34,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Spyre Therapeutics in the fourth quarter valued at approximately $46,000. 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).