Brokerages Set Spyre Therapeutics, Inc. (NASDAQ:SYRE) Target Price at $53.40

Shares of Spyre Therapeutics, Inc. (NASDAQ:SYRE) have been given a consensus rating of “Buy” by the seven brokerages that are covering the firm, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a buy recommendation and two have issued a strong buy recommendation on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $53.40.

Several brokerages have recently weighed in on SYRE. Leerink Partnrs raised shares of Spyre Therapeutics to a “strong-buy” rating in a research note on Tuesday, April 8th. Leerink Partners started coverage on shares of Spyre Therapeutics in a research report on Tuesday, April 8th. They issued an “outperform” rating and a $45.00 target price for the company. Finally, Wedbush reiterated an “outperform” rating and issued a $65.00 price target on shares of Spyre Therapeutics in a research note on Monday, May 5th.

Institutional Trading of Spyre Therapeutics

Several institutional investors have recently added to or reduced their stakes in SYRE. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Spyre Therapeutics by 4.2% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,741 shares of the company’s stock worth $527,000 after purchasing an additional 916 shares during the period. AlphaQuest LLC boosted its position in shares of Spyre Therapeutics by 45.2% during the 1st quarter. AlphaQuest LLC now owns 3,191 shares of the company’s stock worth $51,000 after acquiring an additional 993 shares in the last quarter. GF Fund Management CO. LTD. bought a new stake in Spyre Therapeutics during the fourth quarter worth $29,000. MetLife Investment Management LLC lifted its stake in Spyre Therapeutics by 6.2% during the fourth quarter. MetLife Investment Management LLC now owns 21,382 shares of the company’s stock worth $498,000 after purchasing an additional 1,250 shares during the last quarter. Finally, Huntington National Bank acquired a new stake in shares of Spyre Therapeutics in the 4th quarter valued at $34,000. 80.39% of the stock is currently owned by institutional investors.

Spyre Therapeutics Price Performance

NASDAQ SYRE opened at $16.29 on Thursday. The company has a 50 day simple moving average of $15.77 and a 200-day simple moving average of $17.53. Spyre Therapeutics has a 52-week low of $10.91 and a 52-week high of $40.26. The firm has a market capitalization of $981.96 million, a price-to-earnings ratio of -4.32 and a beta of 2.68.

Spyre Therapeutics (NASDAQ:SYRE) last posted its quarterly earnings data on Thursday, May 8th. The company reported ($0.74) earnings per share for the quarter, topping the consensus estimate of ($0.76) by $0.02. On average, analysts predict that Spyre Therapeutics will post -4.46 EPS for the current year.

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).