Spyre Therapeutics, Inc. Expected to Post Q3 2024 Earnings of ($0.45) Per Share (NASDAQ:SYRE)

Spyre Therapeutics, Inc. (NASDAQ:SYRE) – Wedbush issued their Q3 2024 earnings estimates for Spyre Therapeutics in a note issued to investors on Tuesday, September 3rd. Wedbush analyst D. Nierengarten forecasts that the company will post earnings per share of ($0.45) for the quarter. Wedbush currently has a “Outperform” rating and a $45.00 target price on the stock. The consensus estimate for Spyre Therapeutics’ current full-year earnings is ($3.96) per share. Wedbush also issued estimates for Spyre Therapeutics’ Q4 2024 earnings at ($0.47) EPS, FY2024 earnings at ($2.82) EPS, FY2025 earnings at ($1.96) EPS, FY2026 earnings at ($2.45) EPS, FY2027 earnings at ($2.75) EPS and FY2028 earnings at ($2.88) EPS.

Spyre Therapeutics (NASDAQ:SYRE) last announced its earnings results on Wednesday, August 7th. The company reported ($0.86) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.90) by $0.04.

A number of other equities analysts have also weighed in on SYRE. Evercore ISI initiated coverage on shares of Spyre Therapeutics in a research report on Tuesday, July 16th. They issued an “outperform” rating on the stock. Wells Fargo & Company lifted their price objective on shares of Spyre Therapeutics from $35.00 to $40.00 and gave the company an “overweight” rating in a research report on Monday, May 13th. Finally, BTIG Research lifted their price objective on shares of Spyre Therapeutics from $32.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, May 10th. Ten investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Spyre Therapeutics presently has an average rating of “Buy” and a consensus target price of $43.43.

Spyre Therapeutics Trading Up 0.1 %

Shares of SYRE opened at $28.04 on Friday. The firm has a market cap of $1.13 billion, a PE ratio of -0.39 and a beta of 2.92. The company’s 50 day simple moving average is $27.37 and its 200-day simple moving average is $31.69. Spyre Therapeutics has a 12-month low of $8.43 and a 12-month high of $47.97.

Institutional Investors Weigh In On Spyre Therapeutics

Institutional investors have recently made changes to their positions in the stock. EFG Asset Management North America Corp. purchased a new stake in shares of Spyre Therapeutics during the 2nd quarter worth $869,000. SG Americas Securities LLC purchased a new stake in shares of Spyre Therapeutics during the 2nd quarter worth $130,000. Great Point Partners LLC purchased a new stake in shares of Spyre Therapeutics during the 2nd quarter worth $3,165,000. Avoro Capital Advisors LLC purchased a new stake in shares of Spyre Therapeutics during the 2nd quarter worth $43,238,000. Finally, HighVista Strategies LLC purchased a new stake in shares of Spyre Therapeutics during the 2nd quarter worth $2,670,000. 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).