Analysts Set Spyre Therapeutics, Inc. (NASDAQ:SYRE) Price Target at $39.20

Spyre Therapeutics, Inc. (NASDAQ: SYRE) is a clinical-stage biotechnology company focused on developing and commercializing novel therapies for the treatment of neuropsychiatric disorders. The company's lead product candidate, SY-1425, is a selective serotonin-3 receptor modulator (SSRM) being developed for the treatment of Fragile X Syndrome (FXS), a genetic disorder characterized by intellectual impairment, behavioral challenges, and physical features.

As of now, seven investment analysts are covering Spyre Therapeutics, and they have issued a consensus recommendation of "Buy" on the company's stock, according to Marketbeat Ratings. This suggests that the analysts are optimistic about the potential growth and success of the company and its pipeline of therapies.

The average price target among these analysts is $39.20, indicating that they believe the stock is undervalued and could potentially increase in value by this amount in the next year. It's important to note that price targets are not guarantees and are subject to change based on various factors such as market conditions and company performance.

Spyre Therapeutics has made significant progress in the development of SY-1425 for FXS. The company recently announced positive results from a Phase 2a clinical trial evaluating the safety and efficacy of SY-1425 in adult males with FXS. The trial met its primary endpoint, demonstrating a statistically significant improvement in social avoidance behavior compared to placebo. The company plans to initiate a pivotal Phase 3 trial in the second half of 2023.

Additionally, Spyre Therapeutics is also developing SY-1425 for other indications such as Prader-Willi Syndrome and Autism Spectrum Disorder. The company's pipeline also includes SY-1445, a selective serotonin-5HT6 receptor antagonist being developed for the treatment of schizophrenia and other neuropsychiatric disorders.

Overall, the consensus recommendation of "Buy" and an average price target of $39.20 from seven analysts reflects their positive outlook on the potential growth and success of Spyre Therapeutics and its pipeline of therapies for the treatment of neuropsychiatric disorders. However, as with any investment decision, it's important to conduct thorough research and consider all available information before making a purchase.