Spyglass Pharma (NASDAQ:SGP) Releases Quarterly Earnings Results, Misses Expectations By $0.02 EPS

Spyglass Pharma (NASDAQ:SGP) announced its quarterly earnings data on Thursday. The company reported ($0.69) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.67) by ($0.02), Zacks reports.

Spyglass Pharma Price Performance

Shares of Spyglass Pharma stock traded up $0.45 during trading on Thursday, hitting $24.27. 31,136 shares of the company were exchanged, compared to its average volume of 103,101. Spyglass Pharma has a fifty-two week low of $20.15 and a fifty-two week high of $32.44. The stock has a 50 day moving average of $24.52.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Citigroup started coverage on Spyglass Pharma in a research report on Tuesday, March 3rd. They issued a “buy” rating and a $42.00 target price for the company. Leerink Partners lowered Spyglass Pharma to a “market perform” rating in a report on Tuesday, March 3rd. Stifel Nicolaus initiated coverage on Spyglass Pharma in a report on Tuesday, March 3rd. They issued a “buy” rating and a $42.00 price objective on the stock. HC Wainwright initiated coverage on Spyglass Pharma in a research note on Tuesday, March 10th. They set a “buy” rating and a $37.00 price target on the stock. Finally, Jefferies Financial Group initiated coverage on Spyglass Pharma in a research note on Tuesday, March 3rd. They set a “buy” rating and a $62.00 price target on the stock. Five research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, Spyglass Pharma presently has an average rating of “Moderate Buy” and a consensus target price of $45.00.

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).