Leerink Partners analyst Faisal Khurshid has reiterated their bullish stance on SYRE stock, giving a Buy rating on June 23.
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Faisal Khurshid’s rating is based on the positive implications of Phase 2 data from Spyre Therapeutics’ sister company, APGE, in the treatment of atopic dermatitis. The data supports the idea that optimizing exposure to validated biologic targets in inflammatory and immunological conditions can achieve efficacy comparable to or better than existing biologics. Given that Spyre Therapeutics focuses on combination biologics for inflammatory bowel disease, the APGE data provides a strong foundation for monotherapy, with the potential for combinations to enhance this further.
Additionally, the APGE trial results, particularly the favorable EASI-75 topline data compared to standard-of-care benchmarks, reinforce the potential of Spyre’s approach. The exposure-response relationship observed in the trial indicates that optimizing exposure can significantly improve clinical efficacy, supporting the hypothesis that each monotherapy component could offer a best-in-mechanism contribution. This de-risking step is crucial for Spyre’s strategy, making the company’s stock an attractive buy according to Khurshid.
In another report released on June 23, Stifel Nicolaus also maintained a Buy rating on the stock with a $71.00 price target.