Analyst Faisal Khurshid of Leerink Partners reiterated a Buy rating on Spyre Therapeutics (SYRE – Research Report), retaining the price target of $45.00.
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Faisal Khurshid has given his Buy rating due to a combination of factors related to Spyre Therapeutics’ strategic execution and promising clinical data. The company has made significant progress in its development of treatments for inflammatory bowel disease (IBD), with successful Phase 1 results for their TL1A program, which includes two monoclonal antibodies. These results demonstrated strong pharmacokinetic and pharmacodynamic profiles without safety or immunogenicity concerns, which is vital for advancing their IBD and rheumatology strategies.
Furthermore, Spyre Therapeutics has initiated a Phase 2 study for ulcerative colitis, named SKYLINE-UC, and expanded their efforts in rheumatology with the SKYWAY-RD study. The company’s ability to develop co-formulated biologic combinations is validated by the Phase 1 data, which supports their engineering capabilities. The IBD lead candidate, SPY002, shows a favorable half-life that aligns with expectations for maintenance dosing. Overall, these developments underscore the company’s potential for successful outcomes in their ongoing and future clinical trials, justifying the Buy rating.
Khurshid covers the Healthcare sector, focusing on stocks such as Spyre Therapeutics, Immunic, and Trevi Therapeutics. According to TipRanks, Khurshid has an average return of 25.5% and a 50.57% success rate on recommended stocks.