Spyre Therapeutics

SYRE · NASDAQ

$91.40+$6.68 (+7.88%)TodayMarket closed · Oct 20, 7:30 PM ET

Prev close $84.72

SYRE analyst rating

BuyConsensus of 16 analysts over the last 12 months. 94% rate it a buy.

Strong buy1
Buy14
Hold1
Underperform0
Sell0

12-month price target · 15 analysts

Average $123.11 (+34.7% upside)

Low: $97.97
Now: $91.40
High: $136.50

Upgrades and downgrades

The latest rating actions, newest first

SYRE analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
BTIG	Oct 19, 2026	Maintains	Buy	$121.00	34%
UBS	Oct 12, 2026	Initiates	Buy	$120.00	0%
JP Morgan	Oct 1, 2026	Initiates	Overweight	$110.00	0%
BTIG	Oct 1, 2026	Maintains	Buy	$121.00	34%
Wedbush	Sep 9, 2026	Maintains	Outperform	$123.00	46%
BTIG	Sep 8, 2026	Maintains	Buy	$121.00	34%
Deutsche Bank	Aug 26, 2026	Maintains	Buy	$135.00 → $127.00	45%
Wedbush	Aug 26, 2026	Maintains	Outperform	$130.00 → $123.00	46%
BTIG	Aug 26, 2026	Maintains	Buy	$132.00 → $121.00	34%
BTIG	Aug 11, 2026	Maintains	Buy	$112.00 → $132.00	34%

The case for and against

Updated Oct 14, 2026

Bull case

Spyre Therapeutics is attractive because its pipeline targets validated inflammatory pathways with differentiated, long-acting antibodies that could improve both efficacy and dosing convenience, and it is uniquely building in-house assets against α4β7, TL1A, and IL-23. Positive proof-of-concept data across the platform strengthen the case: SPY003 met its Week 12 primary endpoint in UC with a -10.0-point RHI improvement in n=44 and showed 20% clinical remission and 30% endoscopic improvement, while the broader HS readthrough suggests SPY072 may benefit from higher potency and longer half-life. The company’s expansion into large, underserved markets such as UC, Crohn’s, PsA, axSpA, and HS, where combination strategies and infrequent dosing could support commercial upside, adds a compelling multi-shot-on-goal growth profile.

Bear case

Spyre Therapeutics is a clinical-stage biotech with no commercial revenue, so its valuation depends heavily on uncertain clinical readouts and regulatory outcomes across its long-acting antibody pipeline for IBD and rheumatic diseases. Its exposure to α4β7, TL1A, and IL-23 monotherapies and combinations creates scientific and execution risk, while competitive updates from rival programs could quickly erode confidence in the franchise. Because development and eventual commercialization will likely require access to capital markets, any funding shortfall could delay or constrain progress and leave the company vulnerable in increasingly price-sensitive markets.

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