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SYRE
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SYRESpyre Therapeutics, Inc.
$104.00$9.0B
Overview & Tools
OverviewChart Terminal ↗Visualize
Valuation & Forecasts
Valuation ModelsEstimatesDCF Model
Price & Analyst Data
Analyst TargetsPrice History
Financial Statements
Income StatementBalance SheetCash FlowRatios & Margins
Performance
P/E HistoryRevenue HistoryEarnings HistoryDividend HistoryTotal Return
Discovery & Screens
Live BreakoutsStock ScreenerOwnership
SYRE logo

Spyre Therapeutics, Inc.

SYRE
NASDAQ · Immunology Biotech
$104.00
At close - Nov 13, 4:00 PM EST - USD
Market Cap$9.03B
P/E-34.8x
52W High$110.64
Volume743.88K
OverviewTerminalAnalysisFinancialsValuationEarningsBreakoutsOwnership
VCP Research Verdict2026Q3

Cash Burn Accelerates Ahead of Revenue Visibility

Spyre Therapeutics reports essentially no recurring revenue, with R&D spending rising from $40.1M in 2025Q2 to $89.2M in 2026Q3 and operating losses widening to -$105.7M, suggesting the business remains a clinical-stage cash consumer.

GrowthMixed
ProfitabilityNegative
ValuationReview
TechnicalsStrong
Explore valuation models
MARKET ACTION

SYRE price & volume

Price trend, volume and key moving averages

Launch Terminal
Loading chart...
Decision Checklist4 Core Signals

What matters now

The signals most likely to change the investment case.

01

Earnings momentum

6/12 Beats

EPS beat 6 of last 12 quarters

02

Valuation risk

-197% Peers

P/E is 197% below peer median

03

Market leadership

RS 95 · Leader

High momentum (Outperforming 95% of market)

04

Strong Uptrend

Strong Trend

Price > 20DMA > 50DMA > 200DMA

Next CatalystEstimated earnings · Feb 3
01

Build the investment case

Start with the evidence for owning the stock and the risks that can break the thesis.

EXECUTIVE THESIS

The Investment Case

Full Analysis
Fundamental Trajectory

Revenue was absent in nearly all reported quarters apart from a single $90.5M entry in 2025Q4 that appears non-recurring, while operating losses deepened from -$41.9M to -$105.7M as R&D grew.

Analyst Consensus+16.8% target
Buy(13 analysts)
12 Buy1 Hold0 Sell

The Bull Case

Upside Catalysts

Positive Phase 1 Data

The bull case for Spyre Therapeutics involves positive Phase 1 data in 2025, which could drive investor confidence and stock performance.

Phase 2 Asset Progress

By 2029, the bull case anticipates a successful Phase 2 asset preparing for Phase 3, potentially with a partner, indicating strong pipeline progression.

Clinical Hold Risk

The bear case highlights the risk of a clinical hold or disappointing data, which could negatively impact the stock's performance.

The Bear Case

Key Downside Risks

Market performance

Price History →

Trailing total returns as of 11/14/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC).

YTD Return
SYRE+240.09%
S&P 500 (^GSPC)+10.42%
1-Year Return
SYRE+359.57%
S&P 500 (^GSPC)+12.25%
3-Year Return
SYRE+921.61%
S&P 500 (^GSPC)+74.72%
5-Year Return
SYRE-42.14%
S&P 500 (^GSPC)+60.03%
02

Test the fundamentals

Check whether operating performance supports the current valuation.

VALUATION & INTRINSIC VALUE

Valuation Scenarios

Valuation Analysis
Trailing P/E
-34.8x
Forward P/E
N/A
EV/EBITDA
N/A
FCF YieldCash Flow
N/A

Valuation vs 5-Year History

Multiple Range
Metric
Current
5Y Median
Historical Range
Percentile
P/E
-34.8x
N/A
N/A
EV/EBITDA
N/A
N/A
N/A
Price/FCF
N/A
N/A
N/A
Current Multiple
5Y Median (50th %ile)

Intrinsic Value Scenarios

DCF Projection
Bear$1.49-98.6%
Base (Fair)$84.84-18.4%
Bull$1.85-98.2%
$1.49 Bear$84.84 Base$1.85 Bull
Current Market Price: $104.00
Trades at a 22.6% premium to Base DCF ($84.84)
Open DCF & Valuation Models →Chart Terminal ↗

Growth & profitability

Annual revenue & EPS trend
Revenue FY25
-
Net income FY25
-$155M+25.4% YoY
Free cash flow FY25
-$169M-7.5% YoY
Operating margin FY25
-
ROIC (FY25)-29.7%
Avg ROIC 5Y-541.5%
ROE (TTM)-29.8%
Piotroski Score2 / 9
Financial Statements →
03

Monitor what changed

Recent results and news deserve attention only when they alter the forward view.

OPERATING RESULTS

Recent Earnings

Earnings History
EPS Beat Rate6/12 (50%)
Revenue Beat Rate0/12 (0%)
QuarterEPS (Act vs Est)Revenue (Act vs Est)
Q4 2026Latest
Nov 3, 2026
-$0.94-14.3%
vs -$0.82
—
vs —
Q3 2026
Aug 4, 2026
-$0.36+52.6%
vs -$0.76
—
vs —
Q2 2026
May 5, 2026
-$0.74-12.1%
vs -$0.66
—
vs —
Q1 2026
Feb 19, 2026
-$0.70-6.1%
vs -$0.66
$90M-36.7%
vs $143M
Historical baseline: 12 quarters analyzedGAAP / Adjusted
MARKET COVERAGE

Latest News

4 Stories
GlobeNewsWire·Oct 18, 2026
Spyre Therapeutics Announces Clinical and Preclinical Data Presentations at United European Gastroenterology Week (UEGW) 2026

WALTHAM, Mass., Oct. 18, 2026 (GLOBE NEWSWIRE) -- Spyre Therapeutics, Inc. (NASDAQ: SYRE), a clinical-stage biotechnology company committed to developing next-generation therapies that elevate the standard in immunology by delivering more complete disease control, greater durability, and a simpler treatment experience for patients, today announced presentations at United European Gastroenterology Week (UEGW) 2026 in Barcelona. The presentations include the first scientific congress presentation of clinical data across all three of Spyre's IBD antibodies—SPY001 (anti-α4β7), SPY002 (anti-TL1A), and SPY003 (anti-IL-23)—which are now being tested as monotherapies and pairwise combinations in the SKYLINE study, as well as new preclinical data demonstrating additive efficacy of these complementary mechanisms.

Seeking Alpha·Oct 7, 2026
Spyre: Maintain 'Strong Buy' On Additional SPY072 Shots On Goal Q4 2026 And IBD Combination Potential

Spyre Therapeutics maintains a 'Strong Buy' rating, driven by promising IBD pipeline progress and robust cash reserves. SYRE's three monotherapy candidates—SPY001, SPY002, SPY003—show potential best-in-class efficacy for IBD, with combination data expected in 2027. Despite discontinuing SPY072 monotherapy for RA, SYRE retains upside via upcoming PsA, axSpA, and combination readouts in late 2026–2028.

GlobeNewsWire·Oct 5, 2026
Spyre Therapeutics Announces Pricing of $350.0 Million Public Offering of Common Stock

WALTHAM, Mass., Oct. 05, 2026 (GLOBE NEWSWIRE) -- Spyre Therapeutics, Inc. (“Spyre” or the “Company”) (Nasdaq: SYRE), a clinical-stage biotechnology company committed to developing next-generation therapies that elevate the standard in immunology by delivering more complete disease control, greater durability, and a simpler treatment experience for patients, today announced the pricing of its previously announced underwritten public offering of 4,117,648 shares of its common stock at a price to the public of $85.00 per share. The gross proceeds to the Company from this offering are expected to be approximately $350.0 million, before deducting underwriting discounts and commissions and other offering expenses. In addition, the Company has granted the underwriters of the offering an option for a period of 30 days to purchase up to an additional approximately $52.5 million of shares of the Company's common stock offered in the public offering under the same terms and conditions. The offering is expected to close on or about October 7, 2026, subject to satisfaction of customary closing conditions.

GlobeNewsWire·Oct 5, 2026
Spyre Therapeutics Announces Proposed Public Offering of its Common Stock

WALTHAM, Mass., Oct. 05, 2026 (GLOBE NEWSWIRE) -- Spyre Therapeutics, Inc. (“Spyre” or the “Company”) (Nasdaq: SYRE), a clinical-stage biotechnology company committed to developing next-generation therapies that elevate the standard in immunology by delivering more complete disease control, greater durability, and a simpler treatment experience for patients, today announced that it has commenced an underwritten public offering of its common stock. In addition, the Company is expected to grant the underwriters of the offering an option for a period of 30 days to purchase an additional 15% of the shares of common stock offered in the public offering under the same terms and conditions. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

Filtered for Spyre Therapeutics, Inc.More Headlines
04

Compare before deciding

Benchmark SYRE against direct peers instead of judging its metrics in isolation.

Peers Comparison

Key metrics vs top competitors for Spyre Therapeutics, Inc. (SYRE)

Full Screener →
CompanyPriceMarket CapP/E RatioRev Growth (1Y)Net MarginROEDiv Yield
SYRE logoSYRESpyre Therapeutics, Inc.Current
$104.00$9.03B-34.85—-291.57%-29.83%—
ARRY logoARRYArray Technologies, Inc.
$4.84$744.52M-6.7040.22%-9.91%-39.51%—
PRTA logoPRTAProthena Corporation plc
$8.16$427.2M-17.57-92.84%-45.43%-8.34%—
TRMB logoTRMBTrimble Inc.
$55.64$12.97B-82.59-2.61%-4.08%-2.91%—
PTGX logoPTGXProtagonist Therapeutics, Inc.
$130.95$8.42B27.44-89.41%62.04%42.83%—
JANX logoJANXJanux Therapeutics, Inc.
$11.37$693.39M-7.18-5.55%-428.74%-10.68%—

Compare SYRE vs Peers

Spyre Therapeutics, Inc. (SYRE) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs ARRY

Most directly comparable listed peer for SYRE.

Scale Benchmark

vs LLY

Larger-name benchmark to compare SYRE against a more recognizable public peer.

Peer Set

Compare Top 5

vs ARRY, PRTA, TRMB, PTGX

05

Keep researching

Verify the primary filings, follow material updates, and answer the remaining questions.

SYRE SEC Filings & Documents

Spyre Therapeutics, Inc. (SYRE) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

Nov 3, 2026·SEC

Material company update

Oct 7, 2026·SEC

Material company update

Aug 4, 2026·SEC

10-K Annual Reports

3
FY 2026

Feb 19, 2026·SEC

FY 2025

Feb 27, 2025·SEC

FY 2024

Feb 29, 2024·SEC

10-Q Quarterly Reports

6
FY 2026

Nov 3, 2026·SEC

FY 2026

Aug 4, 2026·SEC

FY 2026

May 5, 2026·SEC

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SYRE Frequently Asked Questions

Spyre Therapeutics, Inc. (SYRE) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials
What is Spyre Therapeutics, Inc.'s revenue?

Spyre Therapeutics, Inc. (SYRE) reported $90.5M in revenue over the trailing twelve months.

Is SYRE profitable?

No. Spyre Therapeutics, Inc. (SYRE) reported a net loss of $263.9M over the trailing twelve months.

Dividend & Returns
What is SYRE's return on equity?

Spyre Therapeutics, Inc. (SYRE) had a return on equity (ROE) of -29.8% over the trailing twelve months. A negative ROE means the company lost money over the period.

What is Spyre Therapeutics, Inc.'s free cash flow?

Spyre Therapeutics, Inc. (SYRE) had negative free cash flow of $249.3M over the trailing twelve months.

What if you invested $1,000 in SYRE back in 2014?

Total return calculator · dividends reinvested · 12+ years of data

See returns →