Wells Fargo analyst Yanan Zhu has maintained their bullish stance on SYRE stock, giving a Buy rating on May 9.
Yanan Zhu has given his Buy rating due to a combination of factors that indicate a promising outlook for Spyre Therapeutics. The company is well-capitalized, with a cash position of approximately $565 million, which is expected to fund operations into the second half of 2028. This strong financial footing supports their ongoing and upcoming clinical trials, including the Phase 2 study for ulcerative colitis, which explores both monotherapy and combination strategies.
Additionally, Spyre Therapeutics has shown positive progress in its clinical pipeline. The SPY001 study demonstrated a favorable half-life for maintenance dosing, and the interim results for SPY002 and SPY003 are on track for release in the near future. These developments, coupled with the potential for lateral catalysts from other companies’ studies, contribute to a positive outlook for the company’s stock, justifying the Buy rating.
In another report released on May 9, BTIG also maintained a Buy rating on the stock with a $70.00 price target.