Analyst Yanan Zhu from Wells Fargo maintained a Buy rating on Spyre Therapeutics (SYRE – Research Report) and keeping the price target at $40.00.
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Yanan Zhu has given his Buy rating due to a combination of factors that highlight the promising potential of Spyre Therapeutics’ products. The interim Phase 1 data for SYRE’s TL1A monoclonal antibodies (mAbs) demonstrated strong pharmacokinetic and pharmacodynamic profiles, with SPY002 showing a predicted half-life significantly longer than first-generation mAbs. This extended half-life suggests a competitive advantage in dosing frequency, potentially improving patient compliance and treatment efficacy.
Additionally, the safety profile of these mAbs is encouraging, with no serious adverse events reported and minimal treatment-related adverse effects. The initiation of the Phase 2 SKYLINE-UC platform study and the expansion into rheumatology with the SKYWAY-RD study further underscore the company’s strategic growth in addressing unmet medical needs. These developments, coupled with the potential positive readthrough from related studies, position Spyre Therapeutics favorably in the market, justifying the Buy rating.
In another report released yesterday, LifeSci Capital also maintained a Buy rating on the stock with a $50.00 price target.