Buy Rating Affirmed for Spyre Therapeutics on Promising mAb Dosing and Market Positioning

Spyre Therapeutics (SYRE – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Sam Slutsky from LifeSci Capital maintained a Buy rating on the stock and has a $50.00 price target.

Sam Slutsky has given his Buy rating due to a combination of factors regarding Spyre Therapeutics. The recent positive Phase 1 data from a related company, Apogee Therapeutics, has shown promising results in a monoclonal antibody (mAb) with extended human half-life, which has led to the expectation that Spyre’s own mAb candidates could offer similarly extended dosing intervals. These results, paired with preclinical data presented by Spyre, suggest that their SPY001 mAb targeting α4β7 may achieve quarterly dosing, which is a significant improvement in treatment convenience and could position Spyre’s products favorably in the market.
Additionally, the potential for Spyre’s other mAbs, SPY002 and SPY003, to have even longer dosing intervals due to their targeting of secreted proteins adds to the differentiation of their therapies from other biologics currently used in inflammatory bowel disease (IBD). This unique positioning, combined with the fact that Spyre is the sole company with α4β7, TL1A, and IL-23p19 targeting therapies in its portfolio, opens the possibility for multiple in-house combination treatment regimens. Slutsky also notes the correlation in stock movement between Spyre and Apogee owing to similarities in their mAb technology, enhancing investor confidence in Spyre’s market potential.

In another report released on March 26, Stifel Nicolaus also reiterated a Buy rating on the stock with a $54.00 price target.

TipRanks tracks over 100,000 company insiders, identifying the select few who excel in timing their transactions. By upgrading to TipRanks Premium, you will gain access to this exclusive data and discover crucial insights to guide your investment decisions. Begin your TipRanks Premium journey today.

Spyre Therapeutics (SYRE) Company Description:

Aeglea Biotherapeutics, Inc. operates as a clinical-stage biotechnology company, which develops next-generation human enzyme therapeutics as disruptive solutions for rare and other high-burden diseases. Its product pegzilarginase, is in a Phase 3 pivotal trial for the treatment of Arginase 1 Deficiency. The company was founded by George Georgiou and David G. Lowe in December 2013 and is headquartered in Austin, TX.