Robert W. Baird Issues Positive Forecast for Spyre Therapeutics (NASDAQ:SYRE) Stock Price

Spyre Therapeutics (NASDAQ:SYRE) had its target price boosted by equities research analysts at Robert W. Baird from $50.00 to $65.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Robert W. Baird’s price target suggests a potential upside of 81.46% from the stock’s current price.

SYRE has been the subject of several other reports. Evercore ISI began coverage on shares of Spyre Therapeutics in a research report on Tuesday, July 16th. They issued an “outperform” rating for the company. Wedbush reissued an “outperform” rating and set a $45.00 price objective on shares of Spyre Therapeutics in a report on Friday, November 8th. Finally, Guggenheim upped their target price on Spyre Therapeutics from $50.00 to $65.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Ten equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $48.57.

Spyre Therapeutics Stock Performance

Shares of SYRE opened at $35.82 on Wednesday. The company’s 50 day moving average price is $31.16 and its 200 day moving average price is $30.42. The company has a market capitalization of $1.84 billion, a PE ratio of -4.80 and a beta of 2.90. Spyre Therapeutics has a 52 week low of $8.75 and a 52 week high of $47.97.

Institutional Trading of Spyre Therapeutics

Several institutional investors have recently made changes to their positions in the business. Amalgamated Bank acquired a new stake in Spyre Therapeutics during the second quarter valued at approximately $28,000. Quest Partners LLC acquired a new position in Spyre Therapeutics during the 2nd quarter valued at about $36,000. SG Americas Securities LLC acquired a new stake in shares of Spyre Therapeutics during the second quarter worth $130,000. Carlyle Group Inc. bought a new position in Spyre Therapeutics during the 2nd quarter worth approximately $227,000. Finally, Intech Investment Management LLC acquired a new position in Spyre Therapeutics during the third quarter valued at approximately $246,000. 80.39% of the stock is currently 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).