Robert W. Baird Forecasts Strong Price Appreciation for Spyre Therapeutics (NASDAQ:SYRE) Stock

Spyre Therapeutics (NASDAQ:SYRE) had its target price hoisted by Robert W. Baird from $50.00 to $65.00 in a research note published on Wednesday morning,Benzinga reports. They currently have an outperform rating on the stock.

Other research analysts have also recently issued reports about the stock. Guggenheim lifted their price objective on shares of Spyre Therapeutics from $50.00 to $65.00 and gave the company a “buy” rating in a report on Friday, October 25th. Evercore ISI assumed coverage on Spyre Therapeutics in a research note on Tuesday, July 16th. They set an “outperform” rating for the company. Finally, Wedbush reissued an “outperform” rating and set a $45.00 price objective on shares of Spyre Therapeutics in a report on Friday, November 8th. Ten research analysts have rated the stock with a buy rating, According to MarketBeat.com, Spyre Therapeutics presently has a consensus rating of “Buy” and a consensus target price of $48.57.

Spyre Therapeutics Stock Down 6.6 %

Shares of SYRE opened at $29.20 on Wednesday. The business’s fifty day moving average is $31.34 and its 200 day moving average is $30.39. Spyre Therapeutics has a 12-month low of $8.75 and a 12-month high of $47.97. The stock has a market cap of $1.50 billion, a P/E ratio of -3.91 and a beta of 2.90.

Hedge Funds Weigh In On Spyre Therapeutics

Several institutional investors have recently modified their holdings of SYRE. Amalgamated Bank bought a new position in Spyre Therapeutics in the 2nd quarter valued at $28,000. Quest Partners LLC bought a new position in Spyre Therapeutics during the second quarter valued at about $36,000. SG Americas Securities LLC purchased a new stake in Spyre Therapeutics during the second quarter worth about $130,000. Intech Investment Management LLC purchased a new stake in Spyre Therapeutics during the third quarter worth about $246,000. Finally, Carlyle Group Inc. bought a new stake in Spyre Therapeutics in the second quarter worth about $227,000. 80.39% of the stock is owned by institutional investors.

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).