Gyre Therapeutics (NASDAQ:GYRE) Releases Quarterly Earnings Results, Beats Estimates By $0.19 EPS

Gyre Therapeutics (NASDAQ:GYRE) released its quarterly earnings results on Thursday. The company reported $0.04 EPS for the quarter, topping the consensus estimate of ($0.15) by $0.19, Zacks reports. Gyre Therapeutics had a negative return on equity of 6.57% and a negative net margin of 15.47%. The business had revenue of $32.93 million during the quarter, compared to analyst estimates of $28.40 million.

Gyre Therapeutics Stock Up 18.7%

GYRE stock traded up $0.75 during midday trading on Friday, hitting $4.76. The company’s stock had a trading volume of 359,716 shares, compared to its average volume of 149,986. The firm has a 50-day simple moving average of $6.51 and a 200-day simple moving average of $6.90. The firm has a market capitalization of $530.79 million, a P/E ratio of -23.80 and a beta of 2.14. Gyre Therapeutics has a 52-week low of $3.97 and a 52-week high of $9.14.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Zacks Research raised Gyre Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Gyre Therapeutics in a research report on Wednesday. Finally, Wall Street Zen upgraded shares of Gyre Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce”.

Gyre Therapeutics Company Profile

Gyre Therapeutics, Inc is a biopharmaceutical company focused on developing therapies for fibrotic diseases, including pulmonary and liver fibrosis. The company’s lead development program is F351, also known as hydronidone, an investigational small-molecule therapy designed to inhibit the progression of fibrosis.

F351 is being evaluated in clinical programs for idiopathic pulmonary fibrosis and liver fibrosis associated with chronic liver disease, including nonalcoholic steatohepatitis-related fibrosis.