Spyre Therapeutics (NASDAQ:SYRE) Announces Quarterly Earnings Results

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

Spyre Therapeutics Price Performance

SYRE traded up $1.33 on Friday, hitting $19.70. The company had a trading volume of 651,522 shares, compared to its average volume of 601,152. The company’s fifty day moving average price is $22.45 and its 200 day moving average price is $26.83. Spyre Therapeutics has a 1-year low of $18.26 and a 1-year high of $47.97. The stock has a market cap of $1.01 billion, a price-to-earnings ratio of -2.64 and a beta of 2.85.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. The Goldman Sachs Group raised Spyre Therapeutics to a “strong-buy” rating in a research note on Tuesday, February 18th. Wedbush reiterated an “outperform” rating and set a $65.00 price target on shares of Spyre Therapeutics in a report on Monday, January 13th. Finally, Robert W. Baird lifted their price target on Spyre Therapeutics from $50.00 to $65.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Seven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Spyre Therapeutics presently has a consensus rating of “Buy” and a consensus price target of $54.83.

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).