Spyre Therapeutics, Inc. (NASDAQ:SYRE) Receives $46.43 Average PT from Brokerages

Spyre Therapeutics, Inc. (NASDAQ:SYRE) has been assigned a consensus recommendation of “Buy” from the ten analysts that are covering the company, Marketbeat reports. Ten research analysts have rated the stock with a buy rating. The average 12-month price objective among brokerages that have covered the stock in the last year is $46.43.

Several brokerages have commented on SYRE. Guggenheim raised their price objective on Spyre Therapeutics from $50.00 to $65.00 and gave the company a “buy” rating in a report on Friday, October 25th. Evercore ISI initiated coverage on shares of Spyre Therapeutics in a report on Tuesday, July 16th. They issued an “outperform” rating for the company. Finally, Wedbush reaffirmed an “outperform” rating and set a $45.00 price objective on shares of Spyre Therapeutics in a report on Friday.

Hedge Funds Weigh In On Spyre Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the business. Amalgamated Bank acquired a new stake in Spyre Therapeutics in the 2nd quarter valued at about $28,000. Quest Partners LLC acquired a new stake in shares of Spyre Therapeutics in the second quarter valued at approximately $36,000. SG Americas Securities LLC purchased a new position in Spyre Therapeutics during the second quarter worth approximately $130,000. Intech Investment Management LLC acquired a new position in Spyre Therapeutics during the third quarter worth $246,000. Finally, Carlyle Group Inc. purchased a new stake in Spyre Therapeutics in the 2nd quarter valued at $227,000. 80.39% of the stock is owned by hedge funds and other institutional investors.

Spyre Therapeutics Stock Down 0.6 %

SYRE stock opened at $39.35 on Friday. Spyre Therapeutics has a 52-week low of $8.75 and a 52-week high of $47.97. The firm has a market cap of $2.00 billion, a P/E ratio of -5.27 and a beta of 2.90. The company’s 50-day simple moving average is $30.97 and its 200-day simple moving average is $30.40.

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).