Spyre Therapeutics price target raised to $65 from $50 at Guggenheim

Guggenheim analyst Yatin Suneja raised the firm’s price target on Spyre Therapeutics (SYRE) to $65 from $50 and keeps a Buy rating on the shares. The firm’s deep dive of Spyre’s pipeline “increases our conviction on the company” as the firm believes SPY001 should be able to achieve quarterly SubQ dosing vs. Q2W dosing frequency for Takeda’s (TAK) Entyvio and notes that its analysis of SPY002, which has already generated BIC preclinical data, suggests that quarterly dosing is “readily achievable” with potential for enhanced efficacy.