Spyre Therapeutics (NASDAQ:SYRE) Announces Quarterly Earnings Results, Beats Estimates By $0.08 EPS

Spyre Therapeutics (NASDAQ:SYRE) issued its quarterly earnings results on Thursday. The company reported ($0.81) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.89) by $0.08, Zacks reports.

Spyre Therapeutics Price Performance

Shares of NASDAQ:SYRE traded up $1.18 on Friday, hitting $19.55. 174,418 shares of the company’s stock were exchanged, compared to its average volume of 588,771. The business’s 50 day simple moving average is $22.45 and its two-hundred day simple moving average is $26.83. The stock has a market capitalization of $1.01 billion, a price-to-earnings ratio of -2.62 and a beta of 2.85. Spyre Therapeutics has a 12 month low of $18.26 and a 12 month high of $47.97.

Wall Street Analysts Forecast Growth

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

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).