Analysts Set Spyre Therapeutics, Inc. (NASDAQ:SYRE) Price Target at $43.43

Spyre Therapeutics, Inc. (NASDAQ:SYRE) has earned a consensus rating of “Buy” from the ten research firms that are covering the stock, Marketbeat reports. Ten investment analysts have rated the stock with a buy rating. The average 1-year price objective among brokers that have covered the stock in the last year is $43.43.

A number of equities analysts recently commented on the company. Wedbush began coverage on Spyre Therapeutics in a research note on Wednesday, September 4th. They issued an “outperform” rating and a $45.00 price objective on the stock. Evercore ISI started coverage on Spyre Therapeutics in a research report on Tuesday, July 16th. They issued an “outperform” rating for the company.

Hedge Funds Weigh In On Spyre Therapeutics

Hedge funds have recently bought and sold shares of the company. SG Americas Securities LLC bought a new position in shares of Spyre Therapeutics in the second quarter valued at approximately $130,000. EFG Asset Management North America Corp. purchased a new position in Spyre Therapeutics in the 2nd quarter valued at approximately $869,000. Bank of New York Mellon Corp purchased a new position in Spyre Therapeutics in the 2nd quarter valued at approximately $2,767,000. Rhumbline Advisers bought a new stake in Spyre Therapeutics during the 2nd quarter valued at $1,220,000. Finally, TD Asset Management Inc purchased a new stake in shares of Spyre Therapeutics during the second quarter worth $827,000. 80.39% of the stock is owned by hedge funds and other institutional investors.

Spyre Therapeutics Stock Performance

Shares of NASDAQ:SYRE opened at $32.76 on Tuesday. Spyre Therapeutics has a 52 week low of $8.43 and a 52 week high of $47.97. The firm has a market cap of $1.32 billion, a PE ratio of -0.46 and a beta of 2.92. The firm’s fifty day moving average is $28.09 and its 200-day moving average is $30.55.

Spyre Therapeutics (NASDAQ:SYRE) last announced its earnings results on Wednesday, August 7th. The company reported ($0.86) EPS for the quarter, topping the consensus estimate of ($0.90) by $0.04. Sell-side analysts forecast that Spyre Therapeutics will post -3.68 EPS for the current 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).