Guggenheim reiterates Buy rating on Spyre stock citing pipeline progress
Investing.com
Published Jun 03, 2025 07:06AM ET
On Tuesday, Guggenheim analysts reaffirmed a Buy rating and maintained a $65 price target on Spyre stock (NASDAQ: SYRE). The decision aligns with the broader analyst consensus, with targets ranging from $21 to $71 per share. According to InvestingPro data, six analysts have recently revised their earnings expectations upward for the upcoming period. The decision comes as Spyre Therapeutics continues to advance its pipeline in inflammatory bowel disease (IBD) treatments.
Ahead of Johnson & Johnson's Phase IIB DUET study results for ulcerative colitis and Crohn's disease, expected in the third quarter of 2025, analysts maintain a positive outlook on Spyre's potential to develop optimized combination therapies. These therapies could potentially outperform existing treatments in efficacy and safety, becoming the new standard of care in IBD.
Spyre has shown significant progress with its clinical assets, including the release of pharmacokinetic and pharmacodynamic data for SPY001, a next-generation α4β7 monoclonal antibody. Additionally, ongoing Phase I studies for SPY002 and SPY003 are expected to provide interim results in the second quarter and second half of 2025, respectively.
The analysts highlighted the potential superiority of Spyre's combination therapies, including SPY120, SPY130, and SPY230, over existing treatments from Johnson & Johnson and AbbVie (NYSE:ABBV). They noted that these combinations might offer enhanced safety and efficacy, particularly in Crohn's disease and for patients who have not responded to anti-TNF therapy.
The report emphasized Spyre's strategic approach to developing longer-acting monoclonal antibody therapeutics, positioning the company as a leader in pioneering new treatments for inflammatory bowel disease. With a market capitalization of $929 million and next earnings report due on July 31, 2025, investors can access deeper insights and additional analyst recommendations through InvestingPro , which offers exclusive financial metrics and real-time analysis.
In other recent news, Spyre has been the subject of notable analyst attention and developments. BTIG analyst Julian Harrison maintained a Buy rating for Spyre, setting a price target of $70. This follows the initiation of a Phase 1 clinical trial for SPY003, which has shown promise in preclinical studies. The potential for SPY003 to be administered less frequently than existing treatments could offer a significant advantage. Spyre plans to incorporate SPY003 into a Phase 2 study as both a monotherapy and in combination with other drugs by mid-2025.
Additionally, Wolfe Research initiated coverage on Spyre with an Outperform rating, highlighting the company's strong portfolio and business model. Analyst Andy Chen emphasized Spyre's ownership of key molecules, which could facilitate the development of combination therapies for ulcerative colitis and potentially Crohn's disease. Chen noted that while upcoming Phase 1 and Phase 2 trial data may not impact Spyre's stock significantly, results from competitor trials could be critical. The analyst expressed optimism about the potential of combination therapies to become standard treatments, given their comparable safety profile to monotherapies.
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Written By: Investing.com
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