Spyglass Pharma’s (SGP) Buy Rating Reiterated at HC Wainwright

HC Wainwright reissued their buy rating on shares of Spyglass Pharma (NASDAQ:SGP) in a research report released on Wednesday,Benzinga reports. HC Wainwright currently has a $37.00 price target on the stock.

Several other equities analysts have also commented on the company. UBS Group reissued a “buy” rating on shares of Spyglass Pharma in a research report on Monday, October 5th. Wall Street Zen downgraded shares of Spyglass Pharma from a “hold” rating to a “sell” rating in a research report on Saturday, October 3rd. Raymond James Financial initiated coverage on shares of Spyglass Pharma in a research note on Friday, August 14th. They set an “outperform” rating and a $39.00 price objective on the stock. Finally, Weiss Ratings cut shares of Spyglass Pharma from a “sell (e+)” rating to a “sell (e)” rating in a research report on Friday, September 25th. Seven investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $44.00.

Spyglass Pharma Stock Performance

Shares of SGP opened at $28.48 on Wednesday. Spyglass Pharma has a 12 month low of $17.06 and a 12 month high of $32.44. The stock’s 50-day moving average is $26.74 and its two-hundred day moving average is $23.40.

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

Hedge Funds Weigh In On Spyglass Pharma

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. First Light Asset Management LLC purchased a new stake in shares of Spyglass Pharma during the first quarter worth about $9,716,000. Affinity Asset Advisors LLC purchased a new position in Spyglass Pharma in the first quarter valued at about $6,478,000. Monashee Investment Management LLC purchased a new position in Spyglass Pharma in the first quarter valued at about $2,461,000. Bank of America Corp DE purchased a new position in Spyglass Pharma in the first quarter valued at about $726,000. Finally, Bank of New York Mellon Corp acquired a new stake in Spyglass Pharma during the 2nd quarter valued at approximately $533,000.

About Spyglass Pharma

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.