Spyre Therapeutics (NASDAQ:SYRE) Announces Earnings Results, Beats Estimates By $0.04 EPS

Spyre Therapeutics (NASDAQ:SYRE) issued its quarterly earnings results on Wednesday. The company reported ($0.86) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.90) by $0.04, Zacks reports.

Spyre Therapeutics Trading Down 1.8 %

SYRE stock traded down $0.45 during trading on Friday, hitting $24.80. The company had a trading volume of 302,647 shares, compared to its average volume of 520,265. The company has a fifty day moving average price of $28.58 and a two-hundred day moving average price of $31.47. The company has a market cap of $999.02 million, a P/E ratio of -0.35 and a beta of 2.93. Spyre Therapeutics has a fifty-two week low of $8.43 and a fifty-two week high of $47.97.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on SYRE shares. Wells Fargo & Company lifted their price target on Spyre Therapeutics from $35.00 to $40.00 and gave the stock an “overweight” rating in a research note on Monday, May 13th. Evercore ISI began coverage on Spyre Therapeutics in a research report on Tuesday, July 16th. They set an “outperform” rating for the company. BTIG Research lifted their price target on Spyre Therapeutics from $32.00 to $40.00 and gave the company a “buy” rating in a report on Friday, May 10th. Finally, Robert W. Baird began coverage on Spyre Therapeutics in a report on Thursday, May 2nd. They set an “outperform” rating and a $50.00 price target for the company. Nine analysts have rated the stock with a buy rating, According to MarketBeat, Spyre Therapeutics currently has a consensus rating of “Buy” and an average price target of $43.17.

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).