Spyre Therapeutics’ (SYRE) “Outperform” Rating Reiterated at Wedbush

Spyre Therapeutics (NASDAQ:SYRE)‘s stock had its “outperform” rating reiterated by equities researchers at Wedbush in a report released on Monday,RTT News reports. They presently have a $65.00 target price on the stock. Wedbush’s price target suggests a potential upside of 419.58% from the company’s previous close.

A number of other research analysts have also commented on the stock. Leerink Partnrs raised shares of Spyre Therapeutics to a “strong-buy” rating in a research report on Tuesday, April 8th. Wolfe Research assumed coverage on Spyre Therapeutics in a research note on Tuesday, March 18th. They set an “outperform” rating and a $27.00 price target on the stock. Leerink Partners initiated coverage on Spyre Therapeutics in a research report on Tuesday, April 8th. They issued an “outperform” rating and a $45.00 price objective for the company. Finally, The Goldman Sachs Group raised Spyre Therapeutics to a “strong-buy” rating in a report on Tuesday, February 18th. Eight analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $49.57.

Spyre Therapeutics Stock Down 11.2 %

SYRE opened at $12.51 on Monday. The stock’s 50 day moving average price is $15.69 and its two-hundred day moving average price is $22.47. The firm has a market capitalization of $754.05 million, a P/E ratio of -1.67 and a beta of 2.78. Spyre Therapeutics has a 12-month low of $10.91 and a 12-month high of $40.49.

Spyre Therapeutics (NASDAQ:SYRE) 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. As a group, analysts anticipate that Spyre Therapeutics will post -4.46 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. FMR LLC lifted its holdings in Spyre Therapeutics by 15.4% during the 4th quarter. FMR LLC now owns 8,801,266 shares of the company’s stock valued at $204,893,000 after purchasing an additional 1,177,385 shares during the last quarter. RTW Investments LP increased its holdings in shares of Spyre Therapeutics by 11.2% during the fourth quarter. RTW Investments LP now owns 3,621,996 shares of the company’s stock worth $84,320,000 after buying an additional 363,636 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Spyre Therapeutics by 13.1% during the fourth quarter. Vanguard Group Inc. now owns 2,846,473 shares of the company’s stock worth $66,266,000 after buying an additional 330,553 shares in the last quarter. Driehaus Capital Management LLC raised its stake in shares of Spyre Therapeutics by 308.1% in the fourth quarter. Driehaus Capital Management LLC now owns 2,803,655 shares of the company’s stock valued at $65,269,000 after acquiring an additional 2,116,575 shares during the last quarter. Finally, Braidwell LP boosted its holdings in shares of Spyre Therapeutics by 17.7% in the 4th quarter. Braidwell LP now owns 2,578,404 shares of the company’s stock worth $60,025,000 after acquiring an additional 388,568 shares in the last quarter. 80.39% of the stock is currently owned by institutional investors and hedge funds.

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).