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

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

Spyre Therapeutics Price Performance

Shares of SYRE traded up $1.33 during trading hours 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 capitalization of $1.01 billion, a PE ratio of -2.64 and a beta of 2.85. Spyre Therapeutics has a 12 month low of $18.26 and a 12 month high of $47.97. The stock has a fifty day moving average price of $22.45 and a 200 day moving average price of $26.83.

Wall Street Analyst Weigh In

SYRE has been the subject of a number of recent analyst reports. Robert W. Baird boosted their price objective on shares of Spyre Therapeutics from $50.00 to $65.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. The Goldman Sachs Group upgraded Spyre Therapeutics to a “strong-buy” rating in a research note on Tuesday, February 18th. Finally, Wedbush reaffirmed an “outperform” rating and set a $65.00 price objective on shares of Spyre Therapeutics in a research report on Monday, January 13th. Seven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Spyre Therapeutics presently has an average rating of “Buy” and an average 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).