Sep. 26 at 5:04 PM
Spyre Therapeutics shares rose Friday after Deutsche Bank analyst David Hoang initiated coverage with a Buy rating and
$43 price target, signaling significant upside from the previous close of
$15.61.
Hoang highlighted the company’s potential to lead the inflammatory bowel disease (IBD) space with extended half-life antibodies and fixed-dose combination therapies. Deutsche Bank sees Spyre’s $ 1B market cap as undervaluing its portfolio targeting validated mechanisms (α4β7, TL1A, IL-23) for ulcerative colitis and Crohn’s disease, with potential peak combined sales of
$5.7B.
Opportunities also exist for TL1A therapies in rheumatic diseases. Analysts noted IBD as an active area for pharmaceutical M&A, referencing positive mid-phase trials from Arena, Telavant, Prometheus, and Morphic.
Spyre originated from Fairmount Funds’ Paragon incubator, focused on enhanced biologics for IBD.
$SYRE