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Investing.com - Guggenheim has reiterated its Buy rating on Spyre (NASDAQ:SYRE) stock, maintaining its $65.00 price target following investor meetings with the company’s leadership team. Currently trading at $16.95 with a market cap of $1.02 billion, the stock has attracted strong analyst support, with consensus ratings tracked by InvestingPro showing highly bullish sentiment and price targets ranging up to $71.
The research firm met with Spyre’s CEO Cameron Turtle, CFO Scott Burrows, and VP of Finance & IR Eric McIntyre last week, noting that the company’s SPY003 (IL-23 mAb) topline PK readout remains on schedule for the fourth quarter of 2025.
Guggenheim highlighted that the TL1A market is expanding beyond inflammatory bowel disease, with major pharmaceutical companies conducting Phase II studies across multiple indications, while Spyre has advanced its own TL1A assets into Phase II development for combination IBD and rheumatic diseases.
The DUET readout continues to be a key focus for investors, with Guggenheim suggesting Johnson & Johnson could disclose the data at UEG 2025, though results could potentially be released sooner via press release.
Spyre management provided additional details about upcoming Phase II SKYLINE-UC and SKYWARD-RD studies, with Guggenheim noting the company has 12 potential clinical readouts planned over the next 12-18 months, maintaining Spyre as one of its "Top Picks." The stock has shown recent momentum with an 11.15% gain over the past week, though investors should note its high beta of 2.83 indicates significant volatility. Get deeper insights and access to over 8 additional key metrics with InvestingPro.
In other recent news, Spyre Therapeutics has reported positive interim Phase 1 results for its investigational monoclonal antibodies, SPY002 and SPY072, which target TL1A for immune-mediated diseases. The company stated that both antibodies were well-tolerated with no serious adverse events reported, demonstrating a half-life significantly longer than first-generation anti-TL1A antibodies. Stifel has reiterated its Buy rating on Spyre with a $71 price target, highlighting the company’s progress in its SKYLINE-UC platform study. Similarly, Leerink Partners reaffirmed their Outperform rating with a $45 price target, noting the potential of Spyre’s TL1A program as a best-in-class monotherapy for inflammatory bowel disease (IBD). Guggenheim also maintained a Buy rating with a $65 price target, citing Spyre’s pipeline progress in IBD treatments. Analysts from Guggenheim are optimistic about Spyre’s potential to develop combination therapies that could outperform existing treatments. These developments underscore the company’s ongoing efforts in advancing its clinical programs.
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