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

Spyre Therapeutics (NASDAQ:SYRE) announced its quarterly earnings data on Thursday. The company reported ($0.81) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.89) by $0.08, Zacks reports.

Spyre Therapeutics Stock Performance

Shares of SYRE traded up $1.33 during trading hours on Friday, hitting $19.70. The stock had a trading volume of 651,522 shares, compared to its average volume of 601,152. Spyre Therapeutics has a 12-month low of $18.26 and a 12-month high of $47.97. The firm has a market cap of $1.01 billion, a P/E ratio of -2.64 and a beta of 2.85. The company’s fifty day simple moving average is $22.45 and its 200 day simple moving average is $26.83.

Analyst Ratings Changes

Several research analysts have weighed in on the company. The Goldman Sachs Group upgraded Spyre Therapeutics to a “strong-buy” rating in a report on Tuesday, February 18th. Robert W. Baird upped their target price on Spyre Therapeutics from $50.00 to $65.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Finally, Wedbush reiterated an “outperform” rating and set a $65.00 target price on shares of Spyre Therapeutics in a research report on Monday, January 13th. Seven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target 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).