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 analysts’ consensus estimates of ($0.89) by $0.08, Zacks reports.

Spyre Therapeutics Stock Performance

SYRE stock traded up $1.33 on Friday, reaching $19.70. The company had a trading volume of 651,522 shares, compared to its average volume of 601,152. The company’s fifty day moving average is $22.45 and its 200 day moving average is $26.83. The company has a market cap of $1.01 billion, a P/E ratio of -2.64 and a beta of 2.85. Spyre Therapeutics has a 1 year low of $18.26 and a 1 year high of $47.97.

Wall Street Analyst Weigh In

SYRE has been the subject of a number of research analyst reports. The Goldman Sachs Group upgraded shares of Spyre Therapeutics to a “strong-buy” rating in a report on Tuesday, February 18th. Robert W. Baird lifted their price target on shares of Spyre Therapeutics from $50.00 to $65.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Finally, Wedbush reissued an “outperform” rating and set a $65.00 price target on shares of Spyre Therapeutics in a research note on Monday, January 13th. Seven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Spyre Therapeutics currently has an average rating of “Buy” and a consensus target price 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).