Sam Slutsky, an analyst from LifeSci Capital, maintained the Buy rating on Spyre Therapeutics (SYRE – Research Report). The associated price target remains the same with $50.00.
Sam Slutsky has given his Buy rating due to a combination of factors including Spyre Therapeutics’ promising pipeline and strategic advancements. The company is on track to initiate Phase 2 studies for ulcerative colitis and rheumatoid arthritis by mid-2025, following the expected topline data from Phase 1 studies of their anti-TL1A and anti-IL-23p19 candidates. These developments indicate a robust progression in their clinical trials, which is a positive indicator for future growth.
Additionally, Spyre Therapeutics has shown encouraging results from their long-acting anti-α4β7 candidate, SPY001, which demonstrated a longer-than-expected half-life. This has led to updates in their trial timelines without affecting the initiation of Phase 2 studies. The company’s strategic focus on combination therapies and their recent presentations at major conferences further support the potential for successful outcomes. With over three and a half years of cash runway, Spyre is well-positioned to advance its clinical programs, making it a compelling investment opportunity.
In another report released today, Wedbush also maintained a Buy rating on the stock with a $65.00 price target.