Guggenheim Raises Spyre Therapeutics (NASDAQ:SYRE) Price Target to $65.00

Spyre Therapeutics (NASDAQ:SYRE) had its price objective increased by Guggenheim from $50.00 to $65.00 in a research note issued on Friday, Benzinga reports. The firm currently has a “buy” rating on the stock. Guggenheim’s price target would suggest a potential upside of 85.40% from the stock’s current price.

Several other analysts also recently commented on SYRE. Wedbush initiated coverage on shares of Spyre Therapeutics in a research report on Wednesday, September 4th. They set an “outperform” rating and a $45.00 price objective on the stock. Evercore ISI initiated coverage on shares of Spyre Therapeutics in a research report on Tuesday, July 16th. They set an “outperform” rating on the stock. Ten investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Spyre Therapeutics presently has a consensus rating of “Buy” and an average target price of $46.43.

Spyre Therapeutics Stock Performance

Shares of Spyre Therapeutics stock traded up $1.36 on Friday, hitting $35.06. 385,095 shares of the company’s stock were exchanged, compared to its average volume of 512,498. The company has a 50-day simple moving average of $28.91 and a 200-day simple moving average of $30.48. The stock has a market capitalization of $1.41 billion, a PE ratio of -0.49 and a beta of 2.92. Spyre Therapeutics has a 1 year low of $8.43 and a 1 year high of $47.97.

Spyre Therapeutics (NASDAQ:SYRE) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($0.86) EPS for the quarter, beating the consensus estimate of ($0.90) by $0.04. On average, analysts expect that Spyre Therapeutics will post -3.68 EPS for the current fiscal year.

Institutional Trading of Spyre Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the stock. Amalgamated Bank purchased a new position in shares of Spyre Therapeutics in the 2nd quarter worth $28,000. Quest Partners LLC purchased a new position in shares of Spyre Therapeutics in the 2nd quarter worth $36,000. SG Americas Securities LLC purchased a new position in shares of Spyre Therapeutics in the 2nd quarter worth $130,000. Carlyle Group Inc. purchased a new position in shares of Spyre Therapeutics in the 2nd quarter worth $227,000. Finally, Profund Advisors LLC purchased a new position in shares of Spyre Therapeutics in the 2nd quarter worth $296,000. 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).