Spyre Therapeutics (NASDAQ:SYRE) Posts Earnings Results, Beats Expectations By $0.04 EPS

Spyre Therapeutics (NASDAQ:SYRE) posted its quarterly earnings data on Wednesday. The company reported ($0.86) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.90) by $0.04, Zacks reports.

Spyre Therapeutics Price Performance

SYRE stock traded down $0.45 during trading on Friday, reaching $24.80. The company had a trading volume of 302,647 shares, compared to its average volume of 520,265. Spyre Therapeutics has a 52 week low of $8.43 and a 52 week high of $47.97. The business has a 50 day moving average of $28.58 and a 200 day moving average of $31.47. The company has a market cap of $999.02 million, a P/E ratio of -0.35 and a beta of 2.93.

Analysts Set New Price Targets

A number of equities analysts have recently commented on SYRE shares. BTIG Research increased their price target on shares of Spyre Therapeutics from $32.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, May 10th. Wells Fargo & Company raised their price target on Spyre Therapeutics from $35.00 to $40.00 and gave the company an “overweight” rating in a research report on Monday, May 13th. Robert W. Baird initiated coverage on Spyre Therapeutics in a report on Thursday, May 2nd. They issued an “outperform” rating and a $50.00 price objective for the company. Finally, Evercore ISI assumed coverage on Spyre Therapeutics in a report on Tuesday, July 16th. They set an “outperform” rating on the stock. Nine analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $43.17.

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).