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

Shares of Spyglass Pharma, Inc. (NASDAQ:SGP) have received an average rating of “Moderate Buy” from the six brokerages that are presently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $45.00.

A number of research firms have recently commented on SGP. Leerink Partners downgraded Spyglass Pharma to a “market perform” rating in a report on Tuesday, March 3rd. Stifel Nicolaus began coverage on shares of Spyglass Pharma in a report on Tuesday, March 3rd. They issued a “buy” rating and a $42.00 target price for the company. Wall Street Zen cut shares of Spyglass Pharma from a “hold” rating to a “sell” rating in a report on Saturday, March 28th. HC Wainwright assumed coverage on shares of Spyglass Pharma in a report on Tuesday, March 10th. They issued a “buy” rating and a $37.00 target price for the company. Finally, Citigroup assumed coverage on Spyglass Pharma in a report on Tuesday, March 3rd. They issued a “buy” rating and a $42.00 target price for the company.

Spyglass Pharma Trading Down 4.7%

Shares of SGP opened at $21.20 on Wednesday. Spyglass Pharma has a twelve month low of $20.15 and a twelve month high of $32.44. The firm has a fifty day moving average price of $24.26.

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

Institutional Trading of Spyglass Pharma

Several institutional investors and hedge funds have recently made changes to their positions in the company. The Manufacturers Life Insurance Company acquired a new position in shares of Spyglass Pharma in the 1st quarter valued at $308,000. Bank of America Corp DE acquired a new position in shares of Spyglass Pharma in the 1st quarter valued at $726,000. Monashee Investment Management LLC acquired a new position in shares of Spyglass Pharma in the 1st quarter valued at $2,461,000. Affinity Asset Advisors LLC acquired a new position in shares of Spyglass Pharma in the 1st quarter valued at $6,478,000. Finally, First Light Asset Management LLC acquired a new position in shares of Spyglass Pharma in the 1st quarter valued at $9,716,000.

Spyglass Pharma Company Profile

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).