Wolfe Research Begins Coverage on Spyre Therapeutics (NASDAQ:SYRE)

Analysts at Wolfe Research assumed coverage on shares of Spyre Therapeutics (NASDAQ:SYRE) in a research report issued to clients and investors on Tuesday,Briefing.com Automated Import reports. The brokerage set an “outperform” rating and a $27.00 price target on the stock. Wolfe Research’s target price indicates a potential upside of 45.63% from the stock’s current price.

A number of other research analysts have also recently weighed in on the stock. The Goldman Sachs Group upgraded shares of Spyre Therapeutics to a “strong-buy” rating in a research note on Tuesday, February 18th. Wedbush reissued an “outperform” rating and issued a $65.00 price target on shares of Spyre Therapeutics in a report on Monday, January 13th. Eight equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Spyre Therapeutics presently has an average rating of “Buy” and an average price target of $50.86.

Spyre Therapeutics Stock Up 2.8 %

NASDAQ SYRE opened at $18.54 on Tuesday. The firm has a market capitalization of $1.12 billion, a P/E ratio of -2.48 and a beta of 2.98. The company has a 50-day moving average price of $21.29 and a 200-day moving average price of $26.20. Spyre Therapeutics has a 52 week low of $17.24 and a 52 week high of $47.97.

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, topping the consensus estimate of ($0.89) by $0.08. As a group, equities research analysts anticipate that Spyre Therapeutics will post -4.46 EPS for the current year.

Institutional Trading of Spyre Therapeutics

A number of institutional investors have recently bought and sold shares of SYRE. Quest Partners LLC increased its position in Spyre Therapeutics by 271.2% during the third quarter. Quest Partners LLC now owns 5,654 shares of the company’s stock valued at $166,000 after acquiring an additional 4,131 shares during the last quarter. Intech Investment Management LLC purchased a new position in shares of Spyre Therapeutics during the 3rd quarter worth about $246,000. Charles Schwab Investment Management Inc. grew its holdings in Spyre Therapeutics by 239.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 333,275 shares of the company’s stock valued at $9,802,000 after purchasing an additional 235,094 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in Spyre Therapeutics by 15.0% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 43,460 shares of the company’s stock valued at $1,278,000 after purchasing an additional 5,678 shares during the last quarter. Finally, FMR LLC raised its position in Spyre Therapeutics by 1.5% in the 3rd quarter. FMR LLC now owns 7,623,881 shares of the company’s stock worth $224,218,000 after purchasing an additional 115,898 shares during the period. 80.39% of the stock is currently 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).