Wedbush Reiterates Outperform Rating for Spyre Therapeutics (NASDAQ:SYRE)

Wedbush reiterated their outperform rating on shares of Spyre Therapeutics (NASDAQ:SYRE) in a report published on Friday morning,RTT News reports. They currently have a $45.00 price target on the stock. Wedbush also issued estimates for Spyre Therapeutics’ Q1 2025 earnings at ($0.84) EPS, Q2 2025 earnings at ($0.76) EPS, Q3 2025 earnings at ($0.73) EPS and Q4 2025 earnings at ($0.74) EPS.

Several other analysts have also issued reports on SYRE. Evercore ISI began coverage on shares of Spyre Therapeutics in a research report on Tuesday, July 16th. They issued an “outperform” rating on the stock. Guggenheim upped their target price on shares of Spyre Therapeutics from $50.00 to $65.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Ten research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $46.43.

Spyre Therapeutics Stock Down 0.6 %

NASDAQ SYRE opened at $39.35 on Friday. The company’s 50 day moving average is $30.97 and its 200-day moving average is $30.40. Spyre Therapeutics has a 12-month low of $8.75 and a 12-month high of $47.97. The firm has a market cap of $2.00 billion, a P/E ratio of -5.27 and a beta of 2.90.

Hedge Funds Weigh In On Spyre Therapeutics

A number of institutional investors have recently made changes to their positions in the stock. Intech Investment Management LLC bought a new position in shares of Spyre Therapeutics in the 3rd quarter worth $246,000. Quest Partners LLC boosted its stake in shares of Spyre Therapeutics by 271.2% in 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 in the last quarter. Emerald Advisers LLC purchased a new stake in shares of Spyre Therapeutics in the 3rd quarter valued at $8,604,000. Emerald Mutual Fund Advisers Trust purchased a new stake in shares of Spyre Therapeutics in the 3rd quarter valued at $7,457,000. Finally, Assenagon Asset Management S.A. purchased a new stake in shares of Spyre Therapeutics in the 3rd quarter valued at $33,609,000. Institutional investors 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).