Leerink Partners Initiates Coverage on Spyre Therapeutics (NASDAQ:SYRE)

Investment analysts at Leerink Partners started coverage on shares of Spyre Therapeutics (NASDAQ:SYRE - Get Free Report) in a research report issued to clients and investors on Tuesday, MarketBeat reports. The brokerage set an "outperform" rating and a $45.00 price target on the stock. Leerink Partners' price target points to a potential upside of 268.25% from the stock's current price.

Other equities analysts have also recently issued reports about the stock. The Goldman Sachs Group upgraded 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 target price on the stock. Finally, Wedbush reissued an "outperform" rating and set a $65.00 price target on shares of Spyre Therapeutics in a research note on Monday, January 13th. Eight equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, Spyre Therapeutics presently has an average rating of "Buy" and a consensus target price of $49.57.

Spyre Therapeutics Stock Performance

SYRE stock traded up $0.29 during midday trading on Tuesday, reaching $12.22. 599,414 shares of the company traded hands, compared to its average volume of 584,222. The firm has a market capitalization of $736.34 million, a price-to-earnings ratio of -1.64 and a beta of 3.05. Spyre Therapeutics has a 52-week low of $10.91 and a 52-week high of $40.84. The business has a 50 day moving average of $18.46 and a 200-day moving average of $24.29.

Spyre Therapeutics (NASDAQ:SYRE - Get Free Report) last issued its quarterly earnings results on Thursday, February 27th. The company reported ($0.81) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.89) by $0.08. Research analysts anticipate that Spyre Therapeutics will post -4.46 earnings per share for the current year.

Institutional Trading of Spyre Therapeutics

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

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).