Spyre Therapeutics (NASDAQ:SYRE) Price Target Raised to $65.00

Spyre Therapeutics (NASDAQ:SYRE) had its price target raised by Guggenheim from $50.00 to $65.00 in a research note released on Friday, Benzinga reports. They currently have a buy rating on the stock.

Several other equities analysts have also issued reports on SYRE. Evercore ISI began coverage on Spyre Therapeutics in a report on Tuesday, July 16th. They set an “outperform” rating on the stock. Wedbush assumed coverage on Spyre Therapeutics in a report on Wednesday, September 4th. They issued an “outperform” rating and a $45.00 price objective for the company. Ten equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Spyre Therapeutics currently has a consensus rating of “Buy” and a consensus target price of $46.43.

Spyre Therapeutics Stock Performance

Shares of NASDAQ SYRE opened at $34.81 on Friday. The stock’s 50-day simple moving average is $29.09 and its 200-day simple moving average is $30.34. The firm has a market capitalization of $1.40 billion, a PE ratio of -0.49 and a beta of 2.92. Spyre Therapeutics has a fifty-two week low of $8.43 and a fifty-two week high of $47.97.

Spyre Therapeutics (NASDAQ:SYRE) last released its quarterly earnings data on Wednesday, August 7th. The company reported ($0.86) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.90) by $0.04. On average, sell-side analysts forecast that Spyre Therapeutics will post -3.68 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Spyre Therapeutics

Hedge funds have recently modified their holdings of the stock. Amalgamated Bank purchased a new position in Spyre Therapeutics during the 2nd quarter worth $28,000. Quest Partners LLC acquired a new position in shares of Spyre Therapeutics during the second quarter worth about $36,000. SG Americas Securities LLC purchased a new position in Spyre Therapeutics during the second quarter worth about $130,000. Carlyle Group Inc. acquired a new stake in Spyre Therapeutics in the second quarter valued at about $227,000. Finally, Profund Advisors LLC acquired a new position in Spyre Therapeutics during the 2nd quarter worth approximately $296,000. 80.39% of the stock is owned by institutional investors and hedge funds.

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).