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

Spyglass Pharma (NASDAQ:SGP) had its price objective lifted by Stifel Nicolaus from $42.00 to $44.00 in a research report report published on Friday morning, MarketBeat reports. Stifel Nicolaus currently has a buy rating on the stock.

A number of other analysts have also recently weighed in on SGP. UBS Group reaffirmed a “buy” rating on shares of Spyglass Pharma in a research report on Monday, October 5th. Raymond James Financial began coverage on Spyglass Pharma in a research note on Friday, August 14th. They set an “outperform” rating and a $39.00 price objective on the stock. Wall Street Zen raised shares of Spyglass Pharma from a “sell” rating to a “hold” rating in a research report on Saturday, October 31st. Weiss Ratings lowered shares of Spyglass Pharma from a “sell (e+)” rating to a “sell (e)” rating in a research note on Friday, September 25th. Finally, HC Wainwright boosted their target price on shares of Spyglass Pharma from $37.00 to $43.00 and gave the stock a “buy” rating in a research report on Thursday. Seven analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Spyglass Pharma has a consensus rating of “Moderate Buy” and an average target price of $45.83.

Spyglass Pharma Price Performance

SGP stock opened at $32.88 on Friday. The stock has a 50-day moving average price of $28.78 and a two-hundred day moving average price of $24.83. Spyglass Pharma has a 12-month low of $17.06 and a 12-month high of $39.92.

Spyglass Pharma (NASDAQ:SGP) last released its quarterly earnings data on Thursday, November 12th. The company reported ($0.73) EPS for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.07). As a group, sell-side analysts forecast that Spyglass Pharma will post -2.55 earnings per share for the current fiscal year.

Institutional Trading of Spyglass Pharma

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

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.