Spyre Therapeutics (NASDAQ:SYRE) PT Raised to $40.00 at Wells Fargo & Company

Spyre Therapeutics (NASDAQ:SYRE) had its price target lifted by investment analysts at Wells Fargo & Company from $35.00 to $40.00 in a research note issued on Monday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective points to a potential upside of 1.81% from the stock’s previous close.

SYRE has been the topic of a number of other research reports. BTIG Research raised their target price on shares of Spyre Therapeutics from $32.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, May 10th. Stifel Nicolaus boosted their price objective on Spyre Therapeutics from $36.00 to $54.00 and gave the company a “buy” rating in a research report on Tuesday, March 26th. Finally, Robert W. Baird assumed coverage on Spyre Therapeutics in a research note on Thursday, May 2nd. They set an “outperform” rating and a $50.00 price objective for the company. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $43.17.

Spyre Therapeutics Stock Performance

SYRE stock opened at $39.29 on Monday. The firm’s 50 day moving average price is $37.13. Spyre Therapeutics has a 12-month low of $2.66 and a 12-month high of $47.97. The firm has a market cap of $1.58 billion, a price-to-earnings ratio of -0.55 and a beta of 2.93.

Spyre Therapeutics (NASDAQ:SYRE) last issued its earnings results on Thursday, February 29th. The company reported ($2.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.48) by ($1.80). On average, equities research analysts forecast that Spyre Therapeutics will post -2.36 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).