Deutsche Bank initiated coverage of Spyre Therapeutics (SYRE) with a Buy rating and $43 price target The company’s goal is to create improved biologic drugs for inflammatory bowel disease, such as ulcerative colitis and Crohn’s disease, the analyst tells investors in a research note. The firm believes Spyre could become a leader in inflammatory bowel disease with its extended half-life antibodies and fixed-dose combo therapies. It sees a modest valuation at current share levels.
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