BTIG Reiterates Buy Rating on Spyre (SYRE)

BTIG analyst Julian Harrison reiterated a Buy rating and $40.00 price target on Spyre (NASDAQ: SYRE).

The analyst ocmments "Several UEGW abstracts published over the weekend reinforce SYRE as an emerging leader in IBD. A key question for the TL1A class had been whether the far end of the exposure-response curve was already reached by mAbs in late-stage development. Abstracts shared by Merck and Roche at UEGW increase our confidence that greater monotherapy efficacy could be achieved by better PK/PD and less immunogenicity, boding well for SPY002 (expected to enter the clinic later in 2H24, HV data in 1H25). Both tulisokibart and RG6631 concordantly show greater efficacy at higher doses in long-term Phase 2 datasets (most pronounced in ARTEMIS-UC and APOLLO-CD). Since the highest doses in each trial did not show efficacy plateaus at ~1yr, we think the full potential of this relatively new class in IBD has likely not been realized yet."

For an analyst ratings summary and ratings history on Spyre click here. For more ratings news on Spyre click here.

Shares of Spyre closed at $28.16 yesterday.

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