Spyre Therapeutics (NASDAQ:SYRE) Announces Quarterly Earnings Results

Spyre Therapeutics (NASDAQ:SYRE) released its earnings results on Thursday. The company reported ($0.81) EPS for the quarter, beating the consensus estimate of ($0.89) by $0.08, Zacks reports.

Spyre Therapeutics Stock Up 7.2 %

Shares of SYRE stock traded up $1.33 during trading on Friday, reaching $19.70. 651,522 shares of the company’s stock were exchanged, compared to its average volume of 601,152. The stock has a market capitalization of $1.01 billion, a PE ratio of -2.64 and a beta of 2.85. Spyre Therapeutics has a twelve month low of $18.26 and a twelve month high of $47.97. The firm’s fifty day moving average price is $22.45 and its 200-day moving average price is $26.83.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. The Goldman Sachs Group upgraded Spyre Therapeutics to a “strong-buy” rating in a research note on Tuesday, February 18th. Wedbush reiterated an “outperform” rating and set a $65.00 price objective on shares of Spyre Therapeutics in a research note on Monday, January 13th. Finally, Robert W. Baird upped their price objective on Spyre Therapeutics from $50.00 to $65.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Seven analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Spyre Therapeutics has a consensus rating of “Buy” and a consensus price target of $54.83.

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).