In a report released on July 25, Faisal Khurshid from Leerink Partners reiterated a Buy rating on Spyre Therapeutics, with a price target of $45.00.
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Faisal Khurshid has given his Buy rating due to a combination of factors that highlight Spyre Therapeutics’ promising position in the inflammatory bowel disease (IBD) market. The company’s innovative approach with combination biologics is seen as a significant opportunity for value creation by the end of 2027. This strategy is particularly compelling given the relatively low competitive density in the IBD combination therapy space, which could allow Spyre to set a new efficacy standard.
Furthermore, the management’s confidence in their SKYLINE-UC Phase 2 platform study, which is designed to demonstrate the contribution of individual components, adds to the optimism. The upcoming period of 2026-2027 is expected to be pivotal, with several potential milestones that could significantly enhance the company’s value. Additionally, the positive developments in the broader IBD landscape, such as successful Phase 3 data from other companies, reinforce the potential for Spyre’s approach to succeed.
According to TipRanks, Khurshid is a 5-star analyst with an average return of 33.4% and a 64.21% success rate. Khurshid covers the Healthcare sector, focusing on stocks such as Spyre Therapeutics, aTyr Pharma, and Trevi Therapeutics.