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

Spyglass Pharma, Inc. (NASDAQ:SGP) has received an average rating of “Moderate Buy” from the eight research firms that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and six have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $44.00.

A number of research analysts have recently issued reports on SGP shares. Raymond James Financial started coverage on Spyglass Pharma in a report on Friday, August 14th. They set an “outperform” rating and a $39.00 price target on the stock. Weiss Ratings raised Spyglass Pharma from a “sell (e)” rating to a “sell (e+)” rating in a research report on Thursday, August 20th.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in SGP. Affinity Asset Advisors LLC bought a new position in Spyglass Pharma during the first quarter valued at approximately $6,478,000. First Light Asset Management LLC bought a new stake in Spyglass Pharma in the 1st quarter worth approximately $9,716,000. Monashee Investment Management LLC purchased a new stake in Spyglass Pharma during the 1st quarter valued at $2,461,000. Bank of New York Mellon Corp purchased a new stake in Spyglass Pharma during the 2nd quarter valued at $533,000. Finally, Bank of America Corp DE bought a new position in shares of Spyglass Pharma during the 1st quarter valued at $726,000.

Spyglass Pharma Stock Performance

Shares of NASDAQ SGP opened at $26.10 on Tuesday. The stock has a market cap of $872.52 million and a price-to-earnings ratio of -3.73. Spyglass Pharma has a twelve month low of $17.06 and a twelve month high of $32.44. The stock has a 50 day moving average price of $22.66.

Spyglass Pharma (NASDAQ:SGP) last issued its earnings results on Thursday, August 6th. The company reported ($0.59) EPS for the quarter, missing the consensus estimate of ($0.48) by ($0.11). Equities research analysts predict that Spyglass Pharma will post -2.55 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).