Jul. 13 at 2:06 PM
Mizuho⬆️
$SYRE to
$120, reit'd OP/said~Following a series of internal/external updates, as well as KOL feedback on dual pathway inhibition in IBD that strongly aligns with what SYRE has spoken to (note here), we're raising our PT to
$120 from
$84.
$JNJ $ABVX ABBV APGE TAK
Mizuho added—We believe recent SKYLINE Part A data for SPY001 and SPY002 positions SPY120 for clinical remission rates that will have a high probability of showing superiority over an active monotherapy comparator.
Such a profile will position SYRE with the potential for a late-stage development strategy aligned with KOL feedback on how best to realize the clinical/commercial potential of combination therapy in IBD.
SYRE shares have seen a lot of positive recent momentum, and we expect that to continue with 4 additional Phase II readouts remaining in 2026, followed by Phase II SKYLINE Part B data in 2027 that will lay the foundation for a highly competitive Phase III IBD strategy.
