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

Spyre Therapeutics, Inc. (NASDAQ:SYRE) has been given a consensus recommendation of “Buy” by the seven brokerages that are presently covering the stock, MarketBeat Ratings reports. Seven research analysts have rated the stock with a buy recommendation. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $39.20.

Several analysts have issued reports on the stock. Wells Fargo & Company upgraded shares of Spyre Therapeutics from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $12.00 to $35.00 in a research note on Friday, March 1st. Stifel Nicolaus increased their price objective on Spyre Therapeutics from $36.00 to $54.00 and gave the stock a “buy” rating in a research report on Tuesday, March 26th.

Spyre Therapeutics Stock Performance

NASDAQ:SYRE opened at $33.30 on Tuesday. Spyre Therapeutics has a 52-week low of $2.66 and a 52-week high of $47.97. The company’s fifty day moving average is $34.07. The company has a market cap of $1.20 billion, a price-to-earnings ratio of -0.44 and a beta of 2.88.

Spyre Therapeutics (NASDAQ:SYRE) last announced its quarterly earnings results on Thursday, February 29th. The company reported ($2.28) earnings per share for the quarter, missing the consensus estimate of ($0.48) by ($1.80). On average, sell-side analysts predict that Spyre Therapeutics will post -2.36 EPS 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).