Bank of America analyst Yanan Zhu maintained a “buy” rating on Spyre Therapeutics on Thursday, setting a target price of $115.00. The company’s stock closed at $93.19 on Thursday.
According to the data from TipRanks, Zhu is a five-star analyst with an average return rate of 16.1% and a success rate of 36.84%. Zhu covers the healthcare sector, with a focus on stocks such as Ionis Pharmaceuticals, Spyre Therapeutics, and Pharvaris.
Overall, Wall Street analysts have unanimously rated Spyre Therapeutics as a "strong buy," with an average target price of $122.42, representing a potential increase of 31.37% from the current level. In a report released on October 1st, JPMorgan Chase also began covering the stock, assigning it a "buy" rating with a target price of $110.00.
According to the latest financial report for the quarter ending June 30th as per Spyre Therapeutics, the company incurred a net loss of $36.2 million for that period, calculated in accordance with U.S. Generally Accepted Accounting Principles ( GAAP ). In contrast, during the same period last year, the net loss was $36.72 million.
Based on the trading activities of 46 insiders from the company recently, their sentiment towards this stock is generally negative. This indicates that there has been an increase in the number of insiders selling SYRE shares over the past quarter compared to earlier this year. Earlier this month, SYRE's Chief Financial Officer, Scott L Burrows, sold 17,500 shares, cashing in a total of $1,573,075.00.
