Spyre Therapeutics (NASDAQ:SYRE) PT Raised to $40.00 at BTIG Research

Spyre Therapeutics (NASDAQ:SYRE) had its price target raised by research analysts at BTIG Research from $32.00 to $40.00 in a research note issued on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. BTIG Research’s target price points to a potential upside of 5.37% from the stock’s current price.

SYRE has been the subject of several other research reports. Robert W. Baird began coverage on shares of Spyre Therapeutics in a report on Thursday, May 2nd. They issued an “outperform” rating and a $50.00 price target for the company. Stifel Nicolaus boosted their price target on Spyre Therapeutics from $36.00 to $54.00 and gave the company a “buy” rating in a research note on Tuesday, March 26th. Finally, Wells Fargo & Company upgraded shares of Spyre Therapeutics from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $12.00 to $35.00 in a research report on Friday, March 1st. Eight analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $42.33.

Spyre Therapeutics Stock Up 7.9 %

SYRE stock traded up $2.77 during mid-day trading on Friday, hitting $37.96. The company had a trading volume of 207,307 shares, compared to its average volume of 434,988. The company has a market capitalization of $1.37 billion, a P/E ratio of -0.51 and a beta of 2.93. Spyre Therapeutics has a 12-month low of $2.66 and a 12-month high of $47.97. The firm’s 50-day moving average price is $36.92.

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