Spyre Therapeutics Plunges; Why Analysts Aren’t Sweating

Spyre Therapeutics (SYRE) took a hit Wednesday after its experimental rheumatoid arthritis treatment failed to pass muster in midstage testing. But analysts are far more interested in Spyre’s inflammatory bowel disease drugs. These conditions include ulcerative colitis and Crohn’s disease. “Even excluding all non-UC (ulcerative colitis) indications, our PT (price target) would remain at ~$115, well above current trading levels,”…