LifeSci Capital analyst Sam Slutsky maintained a Buy rating on Spyre Therapeutics today and set a price target of $49.00.
Claim 50% Off TipRanks Premium and Invest with Confidence
- Unlock hedge-fund level data and powerful investing tools designed to help you make smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis so your portfolio is always positioned for maximum potential
Sam Slutsky has given his Buy rating due to a combination of factors including the recent positive performance of Spyre Therapeutics’ stock, which has significantly outperformed relevant indexes. The stock’s upward trajectory is partly attributed to promising commentary on JNJ-4804, a combination treatment for inflammatory bowel disease, which has shown encouraging efficacy and safety results in recent studies.
Furthermore, the completion of large Phase 2b studies in Crohn’s and colitis, as well as a Phase 2 study in psoriatic arthritis, suggests a strong potential for future developments. The focus on refractory populations and the anticipation of further data disclosures in the coming years add to the optimism surrounding the company’s prospects. These factors collectively underpin Slutsky’s confidence in Spyre Therapeutics’ growth potential, justifying the Buy rating.
In another report released on December 1, JonesTrading also upgraded the stock to a Buy with a $64.00 price target.