BTIG analyst Julian Harrison has maintained their bullish stance on SYRE stock, giving a Buy rating on September 8.
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Julian Harrison has given his Buy rating due to a combination of factors that highlight Spyre Therapeutics’ promising developments in the field of rheumatic diseases. The initiation of the Phase 2 SKYWAY trial, which investigates the efficacy of SPY072 in various rheumatic conditions, is a significant step forward. The trial’s design includes multiple sub-studies focusing on rheumatoid arthritis, psoriatic arthritis, and axial spondyloarthritis, with initial data expected in 2026. This strategic approach not only aims to establish SPY072 as a first-in-class treatment option but also offers flexibility in pricing and partnering opportunities across different indications.
Additionally, the potential of SPY002 to become the most potent TL1A monoclonal antibody, with its ability to bind both monomeric and trimeric species of TL1A, enhances its target engagement and anti-inflammatory effects. This could lead to lower injection burdens and improved treatment outcomes. The promising pharmacokinetic data, indicating an extended half-life and favorable dosing intervals, further supports the positive outlook for Spyre Therapeutics. These factors, combined with a thorough valuation analysis, underpin Harrison’s optimistic Buy rating for the company’s stock.
In another report released on September 8, LifeSci Capital also maintained a Buy rating on the stock with a $50.00 price target.