Spyglass Pharma, Inc. (NASDAQ:SGP) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Spyglass Pharma, Inc. (NASDAQ:SGP) have earned an average rating of “Moderate Buy” from the six research firms that are presently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $45.00.

A number of brokerages have commented on SGP. HC Wainwright began coverage on shares of Spyglass Pharma in a report on Tuesday, March 10th. They issued a “buy” rating and a $37.00 price objective on the stock. Leerink Partners lowered shares of Spyglass Pharma to a “market perform” rating in a report on Tuesday, March 3rd. Jefferies Financial Group began coverage on shares of Spyglass Pharma in a report on Tuesday, March 3rd. They issued a “buy” rating and a $62.00 price objective on the stock. Zacks Research upgraded shares of Spyglass Pharma to a “hold” rating in a report on Wednesday, March 4th. Finally, Citigroup began coverage on shares of Spyglass Pharma in a report on Tuesday, March 3rd. They issued a “buy” rating and a $42.00 price objective on the stock.

Spyglass Pharma Price Performance

Shares of Spyglass Pharma stock opened at $18.44 on Friday. The business’s fifty day simple moving average is $21.99. Spyglass Pharma has a twelve month low of $17.60 and a twelve month high of $32.44.

Spyglass Pharma (NASDAQ:SGP) last announced its quarterly earnings results on Thursday, May 14th. The company reported ($0.69) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.67) by ($0.02).

Hedge Funds Weigh In On Spyglass Pharma

A number of institutional investors have recently added to or reduced their stakes in the company. First Light Asset Management LLC acquired a new position in Spyglass Pharma in the 1st quarter worth $9,716,000. Affinity Asset Advisors LLC acquired a new position in Spyglass Pharma in the 1st quarter worth $6,478,000. Monashee Investment Management LLC acquired a new position in Spyglass Pharma in the 1st quarter worth $2,461,000. Bank of America Corp DE acquired a new position in Spyglass Pharma in the 1st quarter worth $726,000. Finally, The Manufacturers Life Insurance Company acquired a new position in Spyglass Pharma in the 1st quarter worth $308,000.

About Spyglass Pharma

We are a late-stage biopharmaceutical company dedicated to transforming the treatment paradigm for patients living with chronic eye conditions through long-acting, sustained drug delivery of approved medicines. Our mission is to significantly improve the lives of patients with chronic eye conditions by developing durable drug delivery solutions that can empower patients and surgeons with confidence in long-term disease control and vision preservation. Our lead product candidate, the Bimatoprost Drug Pad-IOL System (BIM-IOL System), comprising novel, proprietary drug pads attached to our intraocular lens (IOL), is designed to be implanted during routine cataract surgery to reduce elevated intraocular pressure (IOP) in patients who have either open-angle glaucoma (OAG) or ocular hypertension (OHT).