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

Spyre Therapeutics (NASDAQ:SYRE) announced 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 Stock Performance

Shares of NASDAQ:SYRE traded up $1.33 during midday trading on Friday, reaching $19.70. The company had a trading volume of 651,522 shares, compared to its average volume of 601,152. Spyre Therapeutics has a 1-year low of $18.26 and a 1-year high of $47.97. 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 fifty day simple moving average of $22.45 and a two-hundred day simple moving average of $26.83.

Wall Street Analyst Weigh In

SYRE has been the subject of several research reports. The Goldman Sachs Group raised Spyre Therapeutics to a “strong-buy” rating in a research note on Tuesday, February 18th. Robert W. Baird raised their target price on Spyre Therapeutics from $50.00 to $65.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Finally, Wedbush reaffirmed an “outperform” rating and set a $65.00 target price on shares of Spyre Therapeutics in a research note on Monday, January 13th. Seven analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Spyre Therapeutics currently has a consensus rating of “Buy” and a consensus 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).