Spyre Therapeutics initiated with bullish view at Jefferies, here’s why

As previously reported this morning, Jefferies initiated coverage of Spyre Therapeutics with a Buy rating and $31 price target. Spyre’s YTE technology “works” and should allow extended dosing intervals for both SPY001 and SPY002 while maintaining efficacy versus competitors, the analyst tells investors. While early, the firm is “encouraged” by data on lead therapy SPY001 for IBD, the analyst added.