Spyre Therapeutics (NASDAQ:SYRE) Earns Outperform Rating from Analysts at Wedbush

Wedbush assumed coverage on shares of Spyre Therapeutics (NASDAQ:SYRE) in a report published on Wednesday, Marketbeat reports. The brokerage issued an outperform rating and a $45.00 price target on the stock. Wedbush also issued estimates for Spyre Therapeutics’ Q3 2024 earnings at ($0.45) EPS, Q4 2024 earnings at ($0.47) EPS, FY2024 earnings at ($2.82) EPS, FY2025 earnings at ($1.96) EPS, FY2026 earnings at ($2.45) EPS, FY2027 earnings at ($2.75) EPS and FY2028 earnings at ($2.88) EPS.

Several other research firms also recently issued reports on SYRE. BTIG Research boosted their price objective 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. Evercore ISI started coverage on Spyre Therapeutics in a research note on Tuesday, July 16th. They set an outperform rating on the stock. Finally, Wells Fargo & Company raised their price objective on Spyre Therapeutics from $35.00 to $40.00 and gave the stock an overweight rating in a research report on Monday, May 13th. Ten research analysts have rated the stock with a buy rating, According to MarketBeat, Spyre Therapeutics has an average rating of Buy and an average price target of $43.43.

Spyre Therapeutics Stock Down 0.3 %

SYRE opened at $27.96 on Wednesday. The stock’s 50 day moving average price is $27.46 and its two-hundred day moving average price is $31.73. The firm has a market capitalization of $1.13 billion, a P/E ratio of -0.39 and a beta of 2.92. Spyre Therapeutics has a 12-month low of $8.43 and a 12-month high of $47.97.

Spyre Therapeutics (NASDAQ:SYRE) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($0.86) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.90) by $0.04. As a group, analysts anticipate that Spyre Therapeutics will post -3.96 earnings per share for the current year.

Hedge Funds Weigh In On Spyre Therapeutics

Hedge funds have recently modified their holdings of the stock. Amalgamated Bank bought a new stake in Spyre Therapeutics in the second quarter valued at $28,000. Quest Partners LLC acquired a new stake in shares of Spyre Therapeutics in the 2nd quarter valued at $36,000. SG Americas Securities LLC bought a new stake in shares of Spyre Therapeutics in the 2nd quarter worth about $130,000. Carlyle Group Inc. acquired a new stake in shares of Spyre Therapeutics during the 2nd quarter worth about $227,000. Finally, Profund Advisors LLC bought a new position in Spyre Therapeutics during the 2nd quarter valued at about $296,000. 80.39% of the stock is owned by institutional investors and hedge funds.

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).