Spyre Therapeutics (NASDAQ:SYRE) Releases Earnings Results, Beats Expectations By $0.08 EPS

Spyre Therapeutics (NASDAQ:SYRE) released its earnings results on Thursday. The company reported ($0.81) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.89) by $0.08, Zacks reports.

Spyre Therapeutics Stock Up 7.2 %

Spyre Therapeutics stock traded up $1.33 during trading hours on Friday, hitting $19.70. The stock had a trading volume of 651,522 shares, compared to its average volume of 601,152. The stock has a market cap of $1.01 billion, a price-to-earnings ratio of -2.64 and a beta of 2.85. Spyre Therapeutics has a one year low of $18.26 and a one year high of $47.97. The business’s 50 day simple moving average is $22.45 and its 200-day simple moving average is $26.83.

Analysts Set New Price Targets

A number of research firms have recently weighed in on SYRE. Robert W. Baird upped their target price on Spyre Therapeutics from $50.00 to $65.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. The Goldman Sachs Group upgraded Spyre Therapeutics to a “strong-buy” rating in a research report on Tuesday, February 18th. Finally, Wedbush restated an “outperform” rating and set a $65.00 price objective on shares of Spyre Therapeutics in a research report on Monday, January 13th. Seven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $54.83.

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).