Spyre Therapeutics (NASDAQ:SYRE) Posts Earnings Results, Beats Estimates By $0.08 EPS

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

Spyre Therapeutics Stock Performance

NASDAQ:SYRE traded up $1.33 during mid-day trading on Friday, reaching $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 capitalization of $1.01 billion, a P/E ratio of -2.64 and a beta of 2.85. The firm has a 50 day moving average price of $22.45 and a two-hundred day moving average price of $26.83. Spyre Therapeutics has a one year low of $18.26 and a one year high of $47.97.

Analysts Set New Price Targets

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