Spyre Therapeutics (SYRE) AI Stock Analysis

• Market Cap: $2.49B
• Dividend Yield: N/A
• Average Volume (3M): 505.56K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.71
• Revenue Growth: N/A
• EPS Growth: -123.65%
• Country: US
• Employees: 73
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): -0.15
• Shares Outstanding: 77,592,130
• 10 Day Avg. Volume: 500,349
• 30 Day Avg. Volume: 505,557
• PEG Ratio: 0.06
• Price to Book (P/B): 2.11
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -6.96
• Enterprise Value/Market Cap: 0.75
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: -41.38
• Enterprise Value/Ebitda: -10.52
• 1Y Price Target: $57.86
• Price Target Upside: 80.42% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 7
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 58 Neutral
• Price Target: $31.00 ▼(-3.34% Downside)

The score is primarily held back by weak financial performance (minimal revenue, large losses, and significant cash burn), partially offset by strong balance-sheet positioning. Corporate events improve the outlook via positive clinical progress, an extended cash runway, and operational strengthening, while technicals indicate a longer-term uptrend with muted near-term momentum. Valuation remains unattractive on earnings-based measures due to ongoing losses.

Positive Factors

Strong Equity Position

A robust equity position with no debt enhances financial stability and provides a buffer against operational challenges, allowing the company to focus on growth and development without the pressure of debt repayments.

Innovative Product Pipeline

The focus on innovative treatments for autoimmune diseases positions Spyre Therapeutics to potentially capture significant market share in a growing sector, driven by unmet medical needs and advanced therapeutic platforms.

Cash Reserves

Maintaining a solid cash position provides the company with the necessary resources to invest in R&D and navigate periods of revenue instability, supporting long-term strategic initiatives and operational flexibility.

Negative Factors

Negative Cash Flow

Consistently negative operating cash flow indicates challenges in generating cash from core operations, which can hinder the company's ability to sustain its business model and invest in future growth without external financing.

Revenue Challenges

Persistent revenue generation issues highlight difficulties in commercializing products, which can impact long-term viability and limit the company's ability to achieve profitability and market penetration.

Profitability Issues

Ongoing profitability issues, as indicated by negative EBIT and net income, suggest operational inefficiencies and a need for strategic adjustments to improve cost management and revenue streams for sustainable growth.

Spyre Therapeutics Business Overview & Revenue Model

Company Description

Spyre Therapeutics, Inc., a preclinical stage biotechnology company, focuses on developing therapeutics for patients living with inflammatory bowel disease (IBD). It develops SPY001, a human monoclonal immunoglobulin G1 antibody designed to bind selectively to the a4ß7 integrin being developed for the treatment of IBD (ulcerative colitis and Crohn's disease). The company is also developing SPY002, a human monoclonal antibody (mAb)candidates designed to bind to tumor necrosis factor-like ligand 1A; and SPY120, a combination of SPY001 (anti-a4ß7) and SPY002 (anti-TL1A) antibodies, which are in preclinical studies. In addition, its other early-stage programs include SPY003, an anti-IL-23 mAb; SPY004, a novel mechanism of action (MOA) mAb; SPY130, a combination of anti-a4ß7 and anti-IL-23 mAbs; and SPY230, a combination of anti-TL1A and anti-IL-23 mAbs. The company was formerly known as Aeglea BioTherapeutics, Inc. and changed its name to Spyre Therapeutics, Inc. in November 2023. Spyre Therapeutics, Inc. was incorporated in 2013 and is based in Waltham, Massachusetts.

How the Company Makes Money

Spyre Therapeutics generates revenue primarily through the development and commercialization of its proprietary therapeutic products. The company earns money by selling its approved drugs to healthcare providers, hospitals, and directly to patients through pharmacies. Additionally, Spyre may engage in strategic partnerships and collaborations with larger pharmaceutical companies for co-development, licensing, or distribution of its products, which can provide upfront payments, milestone payments, and royalties. The company's revenue model is also supported by research grants and funding for its clinical trials and development programs.

Spyre Therapeutics Financial Statement Overview

Summary

Balance sheet strength (no total debt and substantial equity) supports funding flexibility, but operating fundamentals remain weak with essentially no revenue, large losses (TTM net income -$149.0M; EBIT -$213.6M), and heavy ongoing cash burn (TTM FCF -$161.9M), implying continued dependence on pipeline progress and potential dilution risk.

Income Statement

Results remain firmly loss-making, with TTM (Trailing-Twelve-Months) net income of -$149.0M and EBIT of -$213.6M on essentially no revenue, which limits visibility into operating leverage. Revenue has been inconsistent and has generally trended down versus earlier years (2021 revenue $18.7M to near-zero in more recent periods). A modest positive is that net loss in TTM is smaller than the 2024 annual net loss (-$208.0M), but overall profitability and business traction are still weak.

Balance Sheet

The balance sheet looks strong for a biotech, with zero reported total debt in TTM (Trailing-Twelve-Months) and substantial equity ($455.1M) supporting a large asset base ($504.6M). This provides flexibility to fund R&D without near-term leverage pressure. The key weakness is ongoing negative returns on equity (TTM return on equity about -31%), reflecting continued losses and potential future dilution risk if cash needs persist.

Cash Flow

Cash burn is sizable and persistent: TTM (Trailing-Twelve-Months) operating cash flow and free cash flow were both -$161.9M, similar to the 2024 annual burn (-$157.4M). Free cash flow has not shown a stable improving trend (growth was negative in 2024, then sharply positive in TTM, indicating volatility rather than a clear trajectory). While free cash flow roughly matches net income (both negative), the core issue remains the magnitude and durability of cash outflows.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	0.00	0.00	886.00K	2.33M	18.74M	0.00
Gross Profit	-45.25M	0.00	886.00K	2.33M	18.74M	-1.62M
EBITDA	-177.94M	-207.97M	-127.60M	-82.82M	-64.07M	-79.27M
Net Income	-148.97M	-208.02M	-338.79M	-83.81M	-65.80M	-80.89M
Balance Sheet
Total Assets	504.60M	608.48M	341.86M	71.14M	109.93M	161.62M
Cash, Cash Equivalents and Short-Term Investments	486.20M	603.09M	339.28M	55.71M	93.13M	146.27M
Total Debt	0.00	0.00	0.00	4.63M	5.06M	5.45M
Total Liabilities	49.50M	90.68M	157.84M	20.84M	25.98M	21.79M
Stockholders Equity	455.10M	517.80M	184.02M	50.30M	83.94M	139.83M
Cash Flow
Free Cash Flow	-161.87M	-157.41M	-99.91M	-80.18M	-54.29M	-80.06M
Operating Cash Flow	-161.87M	-157.41M	-99.91M	-80.14M	-53.72M	-75.78M
Investing Cash Flow	-66.61M	-353.29M	-108.39M	57.01M	-22.62M	-7.60M
Financing Cash Flow	221.81M	410.91M	361.08M	42.68M	1.39M	154.51M

Spyre Therapeutics Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 32.07
• 50DMA: Negative
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SYRE, the sentiment is Neutral. The current price of 32.07 is below the 20-day moving average (MA) of 32.60, below the 50-day MA of 32.14, and above the 200-day MA of 21.03, indicating a neutral trend. The MACD of 0.34 indicates Positive momentum. The RSI at 48.54 is Neutral, neither overbought nor oversold. The STOCH value of 44.01 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for SYRE.

Spyre Therapeutics Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
PRAX	60 Neutral	$8.31B	-23.51	-75.20%	―	364.98%	-25.33%
SYRE	58 Neutral	$2.49B	-14.72	-32.63%	―	―	-123.65%
EYPT	58 Neutral	$1.02B	-4.12	-98.23%	―	-7.38%	-49.03%
SPRY	54 Neutral	$1.00B	-12.51	-45.92%	―	5459.66%	-59.70%
OCS	53 Neutral	$1.51B	-10.47	-80.98%	―	―	-25.15%
UPB	52 Neutral	$1.59B	-12.86	-40.80%	―	―	―
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%

Spyre Therapeutics Corporate Events

Spyre Therapeutics Accelerates SKYLINE Trial and Bolsters Leadership

On January 12, 2026, Spyre Therapeutics announced that it expects six proof-of-concept readouts in 2026 from its Phase 2 SKYLINE platform trial in ulcerative colitis and SKYWAY basket trial in rheumatoid arthritis, psoriatic arthritis, and axial spondyloarthritis, with SKYLINE Part A data now accelerated to begin in the second quarter and all SKYWAY indications targeted to read out in the fourth quarter. The company reported that enrollment in SKYLINE Part A has been strong, with the SPY001 arm fully enrolled ahead of schedule, and it highlighted a pro forma cash position of $783 million as of September 30, 2025, which it anticipates will fund operations into the second half of 2028, while also strengthening its commercial capabilities through the appointment of former Amgen executive Kate Tansey Chevlen as Chief Commercial Officer, signaling preparation for potential late-stage development and future commercialization in high-revenue autoimmune markets.

The most recent analyst rating on (SYRE) stock is a Buy with a $64.00 price target. To see the full list of analyst forecasts on Spyre Therapeutics stock, see the SYRE Stock Forecast page.

Spyre Therapeutics Reports Positive Phase 1 Results for SPY003

On November 4, 2025, Spyre Therapeutics announced positive interim Phase 1 results for SPY003, an investigational monoclonal antibody targeting IL-23, showing it was well-tolerated with an 85-day half-life, supporting potential quarterly or twice-yearly dosing. The company also reported financial results for the third quarter of 2025, highlighting a strengthened balance sheet with $783 million in cash and marketable securities, and ongoing Phase 2 trials for multiple investigational antibodies, positioning Spyre for significant developments in 2026.

The most recent analyst rating on (SYRE) stock is a Buy with a $43.00 price target. To see the full list of analyst forecasts on Spyre Therapeutics stock, see the SYRE Stock Forecast page.

Spyre Therapeutics Announces Public Stock Offering

On October 13, 2025, Spyre Therapeutics entered into an underwriting agreement with several financial firms for the public offering of 14,864,865 shares of its common stock at $18.50 per share, raising approximately $316.2 million in gross proceeds. The funds will support the company’s ongoing research and development efforts, including Phase 3 readiness activities for its antibody programs, as well as general corporate purposes.

The most recent analyst rating on (SYRE) stock is a Buy with a $43.00 price target. To see the full list of analyst forecasts on Spyre Therapeutics stock, see the SYRE Stock Forecast page.