Leerink Partnrs Upgrades Spyre Therapeutics (NASDAQ:SYRE) to "Strong-Buy"

Leerink Partnrs upgraded shares of Spyre Therapeutics (NASDAQ:SYRE - Free Report) to a strong-buy rating in a report released on Tuesday morning,Zacks.com reports. Leerink Partnrs also issued estimates for Spyre Therapeutics' Q1 2025 earnings at ($0.83) EPS, Q2 2025 earnings at ($0.83) EPS, Q3 2025 earnings at ($0.84) EPS, Q4 2025 earnings at ($0.85) EPS, FY2025 earnings at ($3.35) EPS and FY2026 earnings at ($3.18) EPS.

SYRE has been the subject of a number of other research reports. Wedbush reissued an "outperform" rating and issued a $65.00 target price on shares of Spyre Therapeutics in a research note on Monday, January 13th. Leerink Partners began coverage on shares of Spyre Therapeutics in a report on Tuesday, April 8th. They set an "outperform" rating and a $45.00 price target for the company. Wolfe Research assumed coverage on shares of Spyre Therapeutics in a report on Tuesday, March 18th. They issued an "outperform" rating and a $27.00 price target on the stock. Finally, The Goldman Sachs Group upgraded shares of Spyre Therapeutics to a "strong-buy" rating in a report on Tuesday, February 18th. Eight investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Buy" and an average target price of $49.57.

Spyre Therapeutics Price Performance

NASDAQ SYRE traded up $0.28 during trading hours on Tuesday, reaching $12.50. 206,325 shares of the stock traded hands, compared to its average volume of 583,819. The stock has a 50 day simple moving average of $18.46 and a two-hundred day simple moving average of $24.26. Spyre Therapeutics has a 1 year low of $10.91 and a 1 year high of $40.49. The company has a market cap of $753.21 million, a price-to-earnings ratio of -1.67 and a beta of 3.05.

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, sell-side analysts forecast that Spyre Therapeutics will post -4.46 EPS for the current fiscal year.

Hedge Funds Weigh In On Spyre Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC purchased a new position in Spyre Therapeutics during the first quarter valued at $70,000. Wellington Management Group LLP increased its stake in Spyre Therapeutics by 6.5% during the 4th quarter. Wellington Management Group LLP now owns 1,604,508 shares of the company's stock valued at $37,353,000 after purchasing an additional 97,308 shares in the last quarter. California State Teachers Retirement System raised its holdings in Spyre Therapeutics by 32.1% in the fourth quarter. California State Teachers Retirement System now owns 32,598 shares of the company's stock worth $759,000 after buying an additional 7,923 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Spyre Therapeutics in the fourth quarter worth approximately $2,844,000. Finally, GF Fund Management CO. LTD. purchased a new stake in shares of Spyre Therapeutics during the fourth quarter valued at approximately $29,000. Institutional investors own 80.39% of the company's stock.

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).