Spyglass Pharma, Inc. (NASDAQ:SGP) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Spyglass Pharma, Inc. (NASDAQ:SGP) have earned an average recommendation of “Moderate Buy” from the six ratings firms that are presently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $45.00.

Several equities research analysts recently weighed in on SGP shares. Zacks Research raised Spyglass Pharma to a “hold” rating in a report on Wednesday, March 4th. Stifel Nicolaus started coverage on Spyglass Pharma in a report on Tuesday, March 3rd. They set a “buy” rating and a $42.00 price target for the company. Citigroup started coverage on Spyglass Pharma in a report on Tuesday, March 3rd. They set a “buy” rating and a $42.00 price target for the company. Jefferies Financial Group initiated coverage on shares of Spyglass Pharma in a research report on Tuesday, March 3rd. They issued a “buy” rating and a $62.00 price objective for the company. Finally, Wall Street Zen downgraded shares of Spyglass Pharma from a “hold” rating to a “sell” rating in a research report on Saturday, March 28th.

Spyglass Pharma Stock Performance

NASDAQ SGP opened at $21.20 on Wednesday. Spyglass Pharma has a 52-week low of $20.15 and a 52-week high of $32.44. The business’s 50-day moving average is $24.26.

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

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Bank of America Corp DE purchased a new position in Spyglass Pharma in the first quarter worth $726,000. The Manufacturers Life Insurance Company purchased a new position in Spyglass Pharma in the first quarter worth $308,000. First Light Asset Management LLC purchased a new position in Spyglass Pharma in the first quarter worth $9,716,000. Affinity Asset Advisors LLC purchased a new position in Spyglass Pharma in the first quarter worth $6,478,000. Finally, Monashee Investment Management LLC purchased a new position in Spyglass Pharma in the first quarter worth $2,461,000.

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).