In a report released today, Julian Harrison from BTIG maintained a Buy rating on Spyre Therapeutics (SYRE – Research Report), with a price target of $70.00.
Don’t Miss TipRanks’ Half-Year Sale
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Julian Harrison has given his Buy rating due to a combination of factors that highlight the promising potential of Spyre Therapeutics’ pipeline. One key aspect is the anticipated interim pharmacokinetic data for SPY002, expected to demonstrate a superior half-life, which could lead to less frequent dosing and a strong competitive position in the market. The company plans to advance its candidates into Phase 2 trials, with SPY002 targeting rheumatoid arthritis, and SPY001 set to enter a Phase 2 trial for ulcerative colitis. This progression is supported by positive interim Phase 1 data, suggesting a favorable safety profile and efficacy.
Additionally, Spyre’s financial position is robust, with significant cash reserves to support ongoing development. The potential of SPY003 as a combination therapy component in inflammatory bowel disease (IBD) further strengthens the investment case, as preclinical data indicate enhanced efficacy when combined with other mechanisms. The strategic focus on innovative treatments and the ability to potentially offer best-in-class therapies underpin Harrison’s optimistic outlook on Spyre Therapeutics, justifying the Buy rating.
In another report released today, Wedbush also maintained a Buy rating on the stock with a $65.00 price target.