Spyre Therapeutics, Inc. (NASDAQ:SYRE) Receives $39.20 Average Target Price from Analysts

Spyre Therapeutics, Inc. (NASDAQ:SYRE) has been assigned a consensus rating of “Buy” from the seven analysts that are currently covering the firm, MarketBeat reports. Seven investment analysts have rated the stock with a buy rating. The average 1-year price target among brokerages that have covered the stock in the last year is $39.20.

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

Spyre Therapeutics Stock Performance

Shares of SYRE opened at $32.47 on Tuesday. Spyre Therapeutics has a 52-week low of $2.66 and a 52-week high of $47.97. The firm has a market cap of $1.17 billion, a price-to-earnings ratio of -0.43 and a beta of 2.88. The firm has a 50 day simple moving average of $34.51.

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