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

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

Spyre Therapeutics Stock Up 7.2 %

SYRE traded up $1.33 during midday trading on Friday, hitting $19.70. The company had a trading volume of 651,522 shares, compared to its average volume of 601,152. The stock’s 50 day moving average price is $22.45 and its 200 day moving average price is $26.83. Spyre Therapeutics has a 52 week low of $18.26 and a 52 week high of $47.97. The company has a market capitalization of $1.01 billion, a price-to-earnings ratio of -2.64 and a beta of 2.85.

Wall Street Analysts Forecast Growth

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