Spyre Therapeutics (NASDAQ:SYRE) Posts Earnings Results, Beats Expectations By $0.08 EPS

Spyre Therapeutics (NASDAQ:SYRE - Get Free Report) issued its quarterly earnings results on Thursday. The company reported ($0.81) EPS for the quarter, topping the consensus estimate of ($0.89) by $0.08, Zacks reports.

Spyre Therapeutics Stock Down 8.9 %

Shares of SYRE traded down $1.76 during trading hours on Monday, hitting $17.94. The company had a trading volume of 526,644 shares, compared to its average volume of 552,713. The business has a fifty day moving average of $22.36 and a 200-day moving average of $26.82. The firm has a market cap of $922.67 million, a price-to-earnings ratio of -2.40 and a beta of 2.85. Spyre Therapeutics has a 12 month low of $17.55 and a 12 month high of $47.97.

Analyst Ratings Changes

Several research firms recently issued reports on SYRE. Robert W. Baird upped their target price on Spyre Therapeutics from $50.00 to $65.00 and gave the stock an "outperform" rating in a report on Wednesday, November 13th. Wedbush reiterated an "outperform" rating and set a $65.00 price objective on shares of Spyre Therapeutics in a research note on Monday, January 13th. Finally, The Goldman Sachs Group raised Spyre Therapeutics to a "strong-buy" rating in a report on Tuesday, February 18th. Seven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Buy" and an average price target of $54.83.

About Spyre Therapeutics

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).