Spyre Therapeutics, Inc. (NASDAQ:SYRE) Given Consensus Recommendation of “Buy” by Brokerages

Spyre Therapeutics, Inc. (NASDAQ:SYRE) has received a consensus rating of “Buy” from the ten brokerages that are presently covering the stock, MarketBeat reports. Ten analysts have rated the stock with a buy recommendation. The average twelve-month price target among analysts that have covered the stock in the last year is $43.43.

Several research firms have weighed in on SYRE. Evercore ISI began coverage on shares of Spyre Therapeutics in a research note on Tuesday, July 16th. They issued an “outperform” rating for the company. Wedbush began coverage on shares of Spyre Therapeutics in a research note on Wednesday, September 4th. They issued an “outperform” rating and a $45.00 price target for the company.

Hedge Funds Weigh In On Spyre Therapeutics

Hedge funds have recently modified their holdings of the company. Bank of New York Mellon Corp purchased a new position in shares of Spyre Therapeutics during the second quarter valued at about $2,767,000. EFG Asset Management North America Corp. purchased a new position in shares of Spyre Therapeutics during the second quarter valued at about $869,000. Candriam S.C.A. purchased a new position in shares of Spyre Therapeutics during the second quarter valued at about $2,468,000. SG Americas Securities LLC purchased a new position in shares of Spyre Therapeutics during the second quarter valued at about $130,000. Finally, TD Asset Management Inc purchased a new position in shares of Spyre Therapeutics during the second quarter valued at about $827,000. Hedge funds and other institutional investors own 80.39% of the company’s stock.

Spyre Therapeutics Stock Up 5.0 %

Spyre Therapeutics stock opened at $30.40 on Friday. The company has a market capitalization of $1.22 billion, a PE ratio of -0.43 and a beta of 2.92. The firm has a fifty day simple moving average of $27.94 and a two-hundred day simple moving average of $32.03. Spyre Therapeutics has a twelve month low of $8.43 and a twelve month high of $47.97.

Spyre Therapeutics (NASDAQ:SYRE) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($0.86) earnings per share for the quarter, topping the consensus estimate of ($0.90) by $0.04. As a group, equities analysts expect that Spyre Therapeutics will post -3.68 earnings per share for the current fiscal year.

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).