Spyglass Pharma, Inc. (NASDAQ:SGP) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Spyglass Pharma, Inc. (NASDAQ:SGP) has been given a consensus rating of “Moderate Buy” by the seven brokerages that are covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating on the company. The average 12 month price target among brokerages that have covered the stock in the last year is $45.00.

Separately, Weiss Ratings started coverage on shares of Spyglass Pharma in a report on Thursday, August 6th. They set a “sell (e)” rating for the company.

Hedge Funds Weigh In On Spyglass Pharma

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

Spyglass Pharma Stock Down 0.4%

Shares of Spyglass Pharma stock opened at $25.17 on Friday. Spyglass Pharma has a one year low of $17.06 and a one year high of $32.44. The stock has a 50 day moving average of $20.76. The stock has a market cap of $841.43 million and a PE ratio of -3.60.

Spyglass Pharma (NASDAQ:SGP) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.59) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.11). As a group, sell-side analysts forecast that Spyglass Pharma will post -2.51 earnings per share for the current year.

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).