Spyre Therapeutics (NASDAQ:SYRE) Earns Outperform Rating from Wedbush

Spyre Therapeutics (NASDAQ:SYRE - Get Free Report)'s stock had its "outperform" rating reaffirmed by equities research analysts at Wedbush in a research note issued on Monday,RTT News reports. They presently have a $65.00 target price on the stock. Wedbush's target price would indicate a potential upside of 423.77% from the company's previous close.

A number of other research firms have also recently weighed in on SYRE. The Goldman Sachs Group raised Spyre Therapeutics to a "strong-buy" rating in a report on Tuesday, February 18th. Wolfe Research assumed coverage on shares of Spyre Therapeutics in a research report on Tuesday, March 18th. They set an "outperform" rating and a $27.00 target price on the stock. Leerink Partnrs upgraded shares of Spyre Therapeutics to a "strong-buy" rating in a research report on Tuesday, April 8th. Finally, Leerink Partners initiated coverage on Spyre Therapeutics in a report on Tuesday, April 8th. They issued an "outperform" rating and a $45.00 price target on the stock. Eight investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Spyre Therapeutics has an average rating of "Buy" and an average price target of $49.57.

Spyre Therapeutics Stock Performance

NASDAQ SYRE traded down $0.30 during trading on Monday, reaching $12.41. 17,090 shares of the company traded hands, compared to its average volume of 599,875. The company has a market cap of $748.03 million, a price-to-earnings ratio of -1.66 and a beta of 2.78. Spyre Therapeutics has a 1-year low of $10.91 and a 1-year high of $40.49. The stock's 50 day moving average price is $15.55 and its two-hundred day moving average price is $22.40.

Spyre Therapeutics (NASDAQ:SYRE - Get Free Report) last announced its earnings results on Thursday, February 27th. The company reported ($0.81) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.89) by $0.08. Equities research analysts expect that Spyre Therapeutics will post -4.46 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. GF Fund Management CO. LTD. bought a new position in shares of Spyre Therapeutics during the 4th quarter worth approximately $29,000. Huntington National Bank acquired a new stake in shares of Spyre Therapeutics in the fourth quarter valued at approximately $34,000. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Spyre Therapeutics during the 4th quarter worth approximately $46,000. GAMMA Investing LLC acquired a new position in shares of Spyre Therapeutics during the 1st quarter worth approximately $70,000. Finally, KLP Kapitalforvaltning AS bought a new position in Spyre Therapeutics during the fourth quarter worth $182,000. 80.39% of the stock is currently owned by institutional investors.

About Spyre Therapeutics

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).