Spyre's IBD Pipeline Remains Key Driver, Wedbush Says

11:11 AM EDT, 08/26/2026 (MT Newswires) -- Spyre Therapeutics' (SYRE) pipeline for inflammatory bowel disease remains key value driver after "disappointing" results in rheumatoid arthritis drug trial, Wedbush said in a Tuesday note. "While we view the RA result as disappointing, we see limited impact to our core IBD-driven thesis," the report said. The note said valuation of the stock remains driven by SPY001/002/003 in IBD. Even excluding all non-ulcerative colitis indications, the stock's price target would remain at about $115, well above current trading levels, it added. "We continue to view September SPY003 SKYLINE Part A UC data and SKYLINEUC Part B data in 2027 as the substantially more important catalysts for shares," the report said. Wedbush cut its price target to $123 from $130 while keeping its outperform rating. Price: 93.99, Change: -13.37, Percent Change: -12.45