Spyre Therapeutics, Inc. (NASDAQ:SYRE) Given Consensus Rating of “Buy” by Brokerages

Shares of Spyre Therapeutics, Inc. (NASDAQ:SYRE) have been given an average rating of “Buy” by the ten research firms that are covering the firm, MarketBeat.com reports. Eight investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $49.57.

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

Spyre Therapeutics Trading Up 2.4 %

Shares of NASDAQ SYRE opened at $12.22 on Tuesday. The stock has a fifty day moving average price of $18.46 and a 200 day moving average price of $24.29. The company has a market cap of $736.34 million, a P/E ratio of -1.64 and a beta of 3.05. Spyre Therapeutics has a 12-month low of $10.91 and a 12-month high of $40.84.

Spyre Therapeutics (NASDAQ:SYRE) last released its quarterly earnings results on Thursday, February 27th. The company reported ($0.81) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.89) by $0.08. On average, sell-side analysts forecast that Spyre Therapeutics will post -4.46 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Spyre Therapeutics by 4.2% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,741 shares of the company’s stock valued at $527,000 after acquiring an additional 916 shares in the last quarter. GF Fund Management CO. LTD. bought a new stake in shares of Spyre Therapeutics during the fourth quarter valued at about $29,000. MetLife Investment Management LLC lifted its holdings in Spyre Therapeutics by 6.2% in the fourth quarter. MetLife Investment Management LLC now owns 21,382 shares of the company’s stock worth $498,000 after purchasing an additional 1,250 shares during the period. Huntington National Bank acquired a new stake in Spyre Therapeutics in the fourth quarter worth about $34,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in Spyre Therapeutics in the 4th quarter valued at about $46,000. Institutional investors own 80.39% of the company’s stock.

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).