Spyre Therapeutics (SYRE – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst on May 9. Analyst Faisal Khurshid from Leerink Partners reiterated a Buy rating on the stock and has a $45.00 price target.
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Faisal Khurshid has given his Buy rating due to a combination of factors that highlight the potential of Spyre Therapeutics in the field of inflammatory bowel disease (IBD). The company recently shared updates at the DDW 2025 conference, which included data from their SPY001 Phase 1 study. This data aligns with previous disclosures and supports the company’s strategy of developing biologics-based combination therapies for IBD, leveraging optimized antibodies against proven targets.
Furthermore, the updates included promising preclinical data on the combination of SPY001 and SPY002, which suggests potential synergistic effects in treating IBD. These findings, along with the anticipated Phase 2 study initiation in mid-2025, reinforce the company’s innovative approach and potential for significant commercial success. The analyst views these developments as supportive of the company’s focus and indicative of its potential to impact the IBD treatment landscape positively.
Khurshid covers the Healthcare sector, focusing on stocks such as Pliant Therapeutics, aTyr Pharma, and Ironwood Pharma. According to TipRanks, Khurshid has an average return of 27.5% and a 46.48% success rate on recommended stocks.
In another report released on May 9, BTIG also maintained a Buy rating on the stock with a $70.00 price target.