Robert W. Baird Forecasts Strong Price Appreciation for Spyre Therapeutics (NASDAQ:SYRE) Stock

Spyre Therapeutics (NASDAQ:SYRE) had its target price hoisted by Robert W. Baird from $50.00 to $65.00 in a research note published on Wednesday morning,Benzinga reports. They currently have an outperform rating on the stock.

Other equities analysts have also issued reports about the stock. Wedbush reissued an “outperform” rating and issued a $45.00 target price on shares of Spyre Therapeutics in a report on Friday, November 8th. Guggenheim lifted their target price on Spyre Therapeutics from $50.00 to $65.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Finally, Evercore ISI assumed coverage on shares of Spyre Therapeutics in a report on Tuesday, July 16th. They issued an “outperform” rating for the company. Ten research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $48.57.

Spyre Therapeutics Trading Down 7.9 %

Shares of SYRE opened at $32.98 on Wednesday. The stock has a market capitalization of $1.70 billion, a PE ratio of -4.41 and a beta of 2.90. The firm’s 50 day moving average is $31.25 and its 200-day moving average is $30.44. Spyre Therapeutics has a 12 month low of $8.75 and a 12 month high of $47.97.

Hedge Funds Weigh In On Spyre Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in SYRE. SG Americas Securities LLC acquired a new position in shares of Spyre Therapeutics during the second quarter worth $130,000. EFG Asset Management North America Corp. bought a new position in Spyre Therapeutics during the 2nd quarter worth $869,000. Bank of New York Mellon Corp bought a new position in Spyre Therapeutics during the 2nd quarter worth $2,767,000. Rhumbline Advisers acquired a new position in Spyre Therapeutics during the 2nd quarter worth about $1,220,000. Finally, TD Asset Management Inc acquired a new stake in shares of Spyre Therapeutics in the second quarter valued at about $827,000. 80.39% of the stock is currently owned by institutional investors and hedge funds.

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).