Spyre Therapeutics, Inc. (NASDAQ:SYRE) Given Average Recommendation of “Buy” by Analysts

Spyre Therapeutics, Inc. (NASDAQ:SYRE) has been given a consensus rating of “Buy” by the ten brokerages that are presently covering the company, Marketbeat.com reports. Eight investment analysts have rated the stock with a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $49.57.

A number of equities analysts have recently commented on SYRE shares. Leerink Partners initiated coverage on shares of Spyre Therapeutics in a report on Tuesday, April 8th. They issued an “outperform” rating and a $45.00 price target on the stock. Wolfe Research assumed coverage on Spyre Therapeutics in a research note on Tuesday, March 18th. They issued an “outperform” rating and a $27.00 target price on the stock. Wedbush reaffirmed an “outperform” rating and set a $65.00 price target on shares of Spyre Therapeutics in a research note on Monday, January 13th. Leerink Partnrs upgraded Spyre Therapeutics to a “strong-buy” rating in a research report on Tuesday, April 8th. Finally, The Goldman Sachs Group upgraded Spyre Therapeutics to a “strong-buy” rating in a research report on Tuesday, February 18th.

Spyre Therapeutics Stock Up 3.1 %

Spyre Therapeutics stock opened at $15.11 on Friday. The stock has a market cap of $910.77 million, a price-to-earnings ratio of -2.02 and a beta of 3.05. The business has a 50-day simple moving average of $15.91 and a 200 day simple moving average of $22.81. Spyre Therapeutics has a 52 week low of $10.91 and a 52 week high of $40.49.

Spyre Therapeutics (NASDAQ:SYRE) last issued its quarterly earnings data on Thursday, February 27th. The company reported ($0.81) EPS for the quarter, topping the consensus estimate of ($0.89) by $0.08. On average, research analysts anticipate that Spyre Therapeutics will post -4.46 earnings per share for the current year.

Institutional Investors Weigh In On Spyre Therapeutics

Institutional investors have recently bought and sold shares of the stock. 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 last quarter. Barclays PLC boosted its position in Spyre Therapeutics by 64.7% during the 3rd quarter. Barclays PLC now owns 105,467 shares of the company’s stock valued at $3,101,000 after buying an additional 41,424 shares during the period. Franklin Resources Inc. grew its holdings in Spyre Therapeutics by 2.5% in the 3rd quarter. Franklin Resources Inc. now owns 760,666 shares of the company’s stock worth $23,322,000 after acquiring an additional 18,762 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Spyre Therapeutics by 29.4% in the third quarter. JPMorgan Chase & Co. now owns 29,473 shares of the company’s stock valued at $867,000 after acquiring an additional 6,701 shares during the period. Finally, China Universal Asset Management Co. Ltd. bought a new position in shares of Spyre Therapeutics during the fourth quarter valued at about $290,000. 80.39% of the stock is currently owned by hedge funds and other institutional investors.

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).