Brokerages Set Spyre Therapeutics, Inc. (NASDAQ:SYRE) Target Price at $54.83

Shares of Spyre Therapeutics, Inc. (NASDAQ:SYRE) have received an average rating of “Buy” from the nine ratings firms that are presently covering the stock, Marketbeat Ratings reports. Eight analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $50.86.

SYRE has been the topic of a number of recent research reports. Wolfe Research initiated coverage on shares of Spyre Therapeutics in a research report on Tuesday. They set an “outperform” rating and a $27.00 price target on the stock. The Goldman Sachs Group upgraded Spyre Therapeutics to a “strong-buy” rating in a research report on Tuesday, February 18th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $65.00 price target on shares of Spyre Therapeutics in a report on Monday, January 13th.

Institutional Trading of Spyre Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in SYRE. Barclays PLC raised its position in Spyre Therapeutics by 64.7% during the 3rd quarter. Barclays PLC now owns 105,467 shares of the company’s stock worth $3,101,000 after buying an additional 41,424 shares during the last quarter. China Universal Asset Management Co. Ltd. acquired a new position in shares of Spyre Therapeutics during the fourth quarter worth about $290,000. Charles Schwab Investment Management Inc. raised its holdings in Spyre Therapeutics by 239.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 333,275 shares of the company’s stock worth $9,802,000 after purchasing an additional 235,094 shares in the last quarter. Jane Street Group LLC lifted its position in Spyre Therapeutics by 78.7% in the third quarter. Jane Street Group LLC now owns 20,641 shares of the company’s stock valued at $607,000 after purchasing an additional 9,090 shares during the period. Finally, Victory Capital Management Inc. purchased a new stake in Spyre Therapeutics in the 4th quarter valued at approximately $6,241,000. Institutional investors and hedge funds own 80.39% of the company’s stock.

Spyre Therapeutics Price Performance

NASDAQ SYRE opened at $18.15 on Friday. Spyre Therapeutics has a 1 year low of $17.24 and a 1 year high of $43.00. The company has a market capitalization of $1.09 billion, a PE ratio of -2.43 and a beta of 2.98. The company has a fifty day moving average of $20.94 and a 200 day moving average of $26.01.

Spyre Therapeutics (NASDAQ:SYRE) last posted its earnings results on Thursday, February 27th. The company reported ($0.81) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.89) by $0.08. Research analysts expect that Spyre Therapeutics will post -4.46 earnings per share 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).