Leerink Partners analyst Faisal Khurshid has reiterated their bullish stance on SYRE stock, giving a Buy rating on August 20.
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Faisal Khurshid has given his Buy rating due to a combination of factors that highlight the potential of Spyre Therapeutics’ strategy in the autoimmune disease market. The recent data from the AFFINITY study validates the effectiveness of combination biologics in patients with treatment-resistant autoimmune conditions, specifically in inflammatory bowel disease. This study, conducted by JNJ, showed significant improvements in efficacy for combination therapies over monotherapies, reinforcing the potential of Spyre Therapeutics’ approach.
Moreover, the AFFINITY study demonstrated that dual-pathway inhibition could lead to impressive clinical outcomes, such as a doubling in the ACR50 response rate. Despite some statistical limitations due to the study’s design, the results indicate a meaningful clinical benefit, especially in refractory populations. Additionally, the safety profile of the combination therapies was deemed manageable, with low rates of serious adverse events, supporting the feasibility of combining biologics. These findings collectively reduce the risk associated with Spyre Therapeutics’ strategy, justifying the Buy rating.
SYRE’s price has also changed moderately for the past six months – from $22.370 to $16.110, which is a -27.98% drop .