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

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

Spyre Therapeutics Price Performance

SYRE traded up $1.33 during trading on Friday, hitting $19.70. The stock had a trading volume of 651,522 shares, compared to its average volume of 601,152. The firm has a market cap of $1.01 billion, a price-to-earnings ratio of -2.64 and a beta of 2.85. The company has a 50 day moving average price of $22.45 and a 200-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.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on SYRE shares. The Goldman Sachs Group raised shares of Spyre Therapeutics to a “strong-buy” rating in a research report on Tuesday, February 18th. Wedbush reiterated an “outperform” rating and set a $65.00 target price on shares of Spyre Therapeutics in a report on Monday, January 13th. Finally, Robert W. Baird raised their price target on Spyre Therapeutics from $50.00 to $65.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Seven investment 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 company has a consensus 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).