Spyre Therapeutics, Inc. (NASDAQ:SYRE) Given Consensus Rating of “Buy” by Brokerages

Shares of Spyre Therapeutics, Inc. (NASDAQ:SYRE) have received a consensus recommendation of “Buy” from the seven research firms that are presently covering the company, Marketbeat reports. Seven analysts have rated the stock with a buy rating. The average 1 year target price among brokers that have covered the stock in the last year is $54.83.

A number of brokerages have recently issued reports on SYRE. Guggenheim boosted their target price on shares of Spyre Therapeutics from $50.00 to $65.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Robert W. Baird raised their target price on shares of Spyre Therapeutics from $50.00 to $65.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Finally, Wedbush reissued an “outperform” rating and set a $65.00 price target on shares of Spyre Therapeutics in a research report on Monday, January 13th.

Spyre Therapeutics Stock Down 2.1 %

Spyre Therapeutics stock opened at $21.82 on Thursday. The company’s 50-day moving average price is $24.91 and its two-hundred day moving average price is $27.97. The stock has a market cap of $1.12 billion, a P/E ratio of -2.92 and a beta of 2.86. Spyre Therapeutics has a twelve month low of $20.07 and a twelve month high of $47.97.

Spyre Therapeutics (NASDAQ:SYRE) last announced its earnings results on Thursday, November 7th. The company reported ($1.36) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.80) by ($0.56). Equities analysts anticipate that Spyre Therapeutics will post -4.46 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Spyre Therapeutics

Institutional investors have recently modified their holdings of the business. Amalgamated Bank bought a new position in Spyre Therapeutics in the second quarter valued at about $28,000. Quest Partners LLC grew its holdings in shares of Spyre Therapeutics by 271.2% during the 3rd quarter. Quest Partners LLC now owns 5,654 shares of the company’s stock valued at $166,000 after purchasing an additional 4,131 shares during the last quarter. Intech Investment Management LLC acquired a new position in Spyre Therapeutics during the 3rd quarter worth approximately $246,000. Profund Advisors LLC bought a new position in Spyre Therapeutics in the 2nd quarter valued at approximately $296,000. Finally, SG Americas Securities LLC boosted its position in Spyre Therapeutics by 127.0% in the third quarter. SG Americas Securities LLC now owns 12,589 shares of the company’s stock valued at $370,000 after buying an additional 7,044 shares in the last quarter. Institutional investors and hedge funds 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).