Spyglass Pharma (NASDAQ:SGP) Announces Earnings Results, Misses Expectations By $0.11 EPS

Spyglass Pharma (NASDAQ:SGP) issued its quarterly earnings results on Thursday. The company reported ($0.59) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.11), FiscalAI reports.

Spyglass Pharma Trading Up 4.5%

Shares of SGP opened at $24.75 on Friday. The company has a fifty day moving average price of $20.12. The stock has a market capitalization of $827.39 million and a P/E ratio of -3.86. Spyglass Pharma has a twelve month low of $17.06 and a twelve month high of $32.44.

Hedge Funds Weigh In On Spyglass Pharma

Hedge funds have recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company bought a new stake in Spyglass Pharma in the first quarter worth about $308,000. Bank of New York Mellon Corp bought a new stake in shares of Spyglass Pharma during the 2nd quarter worth approximately $533,000. Bank of America Corp DE purchased a new position in Spyglass Pharma during the 1st quarter valued at $726,000. Monashee Investment Management LLC purchased a new stake in Spyglass Pharma in the first quarter worth $2,461,000. Finally, Affinity Asset Advisors LLC purchased a new stake in Spyglass Pharma in the first quarter worth $6,478,000.

Spyglass Pharma Company Profile

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).