The Goldman Sachs Group Upgrades Spyre Therapeutics (NASDAQ:SYRE) to “Strong-Buy”

The Goldman Sachs Group upgraded shares of Spyre Therapeutics (NASDAQ:SYRE) to a strong-buy rating in a research report released on Tuesday,Zacks.com reports.

Several other brokerages also recently commented on SYRE. Wedbush reaffirmed an “outperform” rating and issued a $65.00 price objective on shares of Spyre Therapeutics in a research report on Monday, January 13th. Guggenheim upped their price objective 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, Robert W. Baird increased their price target on Spyre Therapeutics from $50.00 to $65.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Seven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $54.83.

Spyre Therapeutics Stock Up 1.4 %

Shares of Spyre Therapeutics stock opened at $22.37 on Tuesday. The stock’s fifty day moving average is $22.87 and its two-hundred day moving average is $27.04. The company has a market capitalization of $1.15 billion, a PE ratio of -2.99 and a beta of 2.85. Spyre Therapeutics has a 52 week low of $20.07 and a 52 week high of $47.97.

Institutional Investors Weigh In On Spyre Therapeutics

A number of hedge funds have recently made changes to their positions in SYRE. Assenagon Asset Management S.A. purchased a new stake in shares of Spyre Therapeutics during the 3rd quarter worth $33,609,000. Emerald Mutual Fund Advisers Trust purchased a new stake in shares of Spyre Therapeutics during the 3rd quarter worth $7,457,000. Emerald Advisers LLC purchased a new stake in shares of Spyre Therapeutics during the 3rd quarter worth $8,604,000. Quest Partners LLC lifted its stake in shares of Spyre Therapeutics by 271.2% during the 3rd quarter. Quest Partners LLC now owns 5,654 shares of the company’s stock worth $166,000 after purchasing an additional 4,131 shares during the last quarter. Finally, Intech Investment Management LLC purchased a new stake in shares of Spyre Therapeutics during the 3rd quarter worth $246,000. 80.39% of the stock is currently owned by hedge funds and other institutional investors.

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).