Spyglass Pharma (NASDAQ:SGP) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Spyglass Pharma (NASDAQ:SGP) from a sell rating to a hold rating in a research report report published on Saturday,Wall Street Zen reports.

Several other equities research analysts have also recently issued reports on the company. Raymond James Financial began coverage on Spyglass Pharma in a report on Friday, August 14th. They issued an “outperform” rating and a $39.00 target price on the stock. Weiss Ratings lowered Spyglass Pharma from a “sell (e+)” rating to a “sell (e)” rating in a research note on Friday, September 25th. UBS Group reissued a “buy” rating on shares of Spyglass Pharma in a research note on Monday, October 5th. Finally, HC Wainwright restated a “buy” rating and set a $37.00 price target on shares of Spyglass Pharma in a report on Wednesday, October 21st. Seven research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $44.00.

Spyglass Pharma Stock Up 4.3%

SGP opened at $33.64 on Friday. The company has a fifty day moving average of $27.37 and a 200 day moving average of $24.32. Spyglass Pharma has a fifty-two week low of $17.06 and a fifty-two week high of $33.96.

Spyglass Pharma (NASDAQ:SGP) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.59) EPS for the quarter, missing the consensus estimate of ($0.48) by ($0.11). Sell-side analysts predict that Spyglass Pharma will post -2.55 earnings per share for the current year.

Hedge Funds Weigh In On Spyglass Pharma

Institutional investors and hedge funds have recently made changes to their positions in the business. The Manufacturers Life Insurance Company bought a new stake in shares of Spyglass Pharma in the 1st quarter worth about $308,000. Bank of New York Mellon Corp bought a new position in shares of Spyglass Pharma in the 2nd quarter valued at about $533,000. Bank of America Corp DE bought a new position in shares of Spyglass Pharma in the 1st quarter valued at about $726,000. Monashee Investment Management LLC purchased a new position in Spyglass Pharma in the first quarter worth about $2,461,000. Finally, Affinity Asset Advisors LLC purchased a new position in Spyglass Pharma in the first quarter worth about $6,478,000.

Spyglass Pharma Company Profile

SpyGlass Pharma, Inc is an ophthalmic pharmaceutical company developing sustained drug-delivery technologies for the treatment of eye diseases. The company’s platform is designed to provide continuous delivery of medication within the eye, with the goal of reducing reliance on daily topical eye drops and improving treatment adherence.

SpyGlass Pharma’s lead product candidate is an investigational drug-delivery system intended to treat glaucoma and ocular hypertension. The implant is designed to be placed in the eye during cataract surgery and release a therapeutic agent over an extended period, potentially providing longer-term control of elevated intraocular pressure.

The company is advancing its technology through clinical development and regulatory processes in the United States.