LifeSci Capital analyst Sam Slutsky maintained a Buy rating on Spyre Therapeutics (SYRE – Research Report) today and set a price target of $50.00.
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Sam Slutsky’s rating is based on Spyre Therapeutics’ strong financial position and promising clinical developments. The company has reported a substantial cash reserve of $565 million, which is projected to fund its operations through significant Phase 2 trials for ulcerative colitis and rheumatoid arthritis, extending into the latter half of 2028. This financial stability is a crucial factor in supporting the company’s ongoing and future research endeavors.
Additionally, Spyre Therapeutics is making notable progress in its clinical trials, with its SPY001 program showing significant differentiation and potential for less frequent dosing in ulcerative colitis treatment. The company is also advancing its anti-TL1A candidates and has initiated a Phase 1 study for its anti-IL-23p19 mAb, SPY003. These developments, coupled with the potential for multiple proof-of-concept readouts in the coming years, underscore the company’s strong pipeline and strategic positioning in the biopharmaceutical sector.
Slutsky covers the Healthcare sector, focusing on stocks such as Immunovant, Olema Pharmaceuticals, and Abivax SA Sponsored ADR. According to TipRanks, Slutsky has an average return of -9.8% and a 29.57% success rate on recommended stocks.
In another report released on May 9, Wedbush also maintained a Buy rating on the stock with a $65.00 price target.