Spyglass Pharma (NASDAQ:SGP) Stock Price Target Raised at Stifel Nicolaus

Spyglass Pharma (NASDAQ:SGP) had its price objective upped by stock analysts at Stifel Nicolaus from $42.00 to $44.00 in a research note issued on Friday, Benzinga reports. The firm presently has a “buy” rating on the stock. Stifel Nicolaus‘s price objective would suggest a potential upside of 32.05% from the stock’s previous close.

SGP has been the subject of several other reports. UBS Group reiterated a “buy” rating on shares of Spyglass Pharma in a report on Monday, October 5th. Raymond James Financial assumed coverage on Spyglass Pharma in a research note on Friday, August 14th. They issued an “outperform” rating and a $39.00 target price on the stock. Wall Street Zen raised Spyglass Pharma from a “sell” rating to a “hold” rating in a research report on Saturday, October 31st. Weiss Ratings downgraded Spyglass Pharma from a “sell (e+)” rating to a “sell (e)” rating in a research note on Friday, September 25th. Finally, HC Wainwright lifted their price target on Spyglass Pharma from $37.00 to $43.00 and gave the company a “buy” rating in a report on Thursday. Seven investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $45.33.

Spyglass Pharma Trading Down 4.7%

SGP stock opened at $33.32 on Friday. Spyglass Pharma has a 12-month low of $17.06 and a 12-month high of $39.92. The company has a 50 day moving average of $28.70 and a two-hundred day moving average of $24.78.

Spyglass Pharma (NASDAQ:SGP) last posted its quarterly earnings results on Thursday, November 12th. The company reported ($0.73) EPS for the quarter, missing the consensus estimate of ($0.66) by ($0.07). Equities research analysts expect that Spyglass Pharma will post -2.55 EPS for the current fiscal year.

Institutional Investors Weigh In On Spyglass Pharma

Institutional investors and hedge funds have recently modified their holdings of the business. Bank of New York Mellon Corp bought a new stake in Spyglass Pharma in the second quarter worth $533,000. Bank of America Corp DE bought a new position in Spyglass Pharma during the first quarter valued at about $726,000. Affinity Asset Advisors LLC bought a new position in Spyglass Pharma during the first quarter valued at about $6,478,000. First Light Asset Management LLC bought a new position in Spyglass Pharma during the first quarter valued at about $9,716,000. Finally, Monashee Investment Management LLC acquired a new stake in shares of Spyglass Pharma in the first quarter worth about $2,461,000.

Spyglass Pharma Company Profile

SpyGlass Pharma is a clinical-stage ophthalmology company developing sustained-release drug delivery systems for chronic eye diseases. Its research is focused on reducing reliance on patients’ regular use of eye drops. The company’s lead program is a bimatoprost drug delivery system being developed to treat glaucoma and ocular hypertension. Bimatoprost is a medication used to lower eye pressure, and SpyGlass is studying a delivery approach intended to provide treatment over an extended period. SpyGlass Pharma’s work centers on advancing this ophthalmic delivery platform and its lead program through clinical development.