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

Spyglass Pharma (NASDAQ:SGP) had its price objective increased by research analysts at Stifel Nicolaus from $42.00 to $44.00 in a report issued on Friday, Benzinga reports. The firm presently has a “buy” rating on the stock. Stifel Nicolaus‘s target price points to a potential upside of 32.05% from the company’s previous close.

Other research analysts have also issued reports about the stock. HC Wainwright raised their target price on shares of Spyglass Pharma from $37.00 to $43.00 and gave the company a “buy” rating in a research note on Thursday. Weiss Ratings lowered shares of Spyglass Pharma from a “sell (e+)” rating to a “sell (e)” rating in a research report on Friday, September 25th. UBS Group restated a “buy” rating on shares of Spyglass Pharma in a report on Monday, October 5th. Wall Street Zen raised Spyglass Pharma from a “sell” rating to a “hold” rating in a research report on Saturday, October 31st. Finally, Raymond James Financial assumed coverage on Spyglass Pharma in a research report on Friday, August 14th. They issued an “outperform” rating and a $39.00 price target on the stock. Seven equities research 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. Based on data from MarketBeat.com, Spyglass Pharma has a consensus rating of “Moderate Buy” and a consensus target price of $45.33.

Spyglass Pharma Trading Down 4.7%

Shares of SGP stock opened at $33.32 on Friday. Spyglass Pharma has a 12 month low of $17.06 and a 12 month high of $39.92. The business’s 50 day moving average is $28.70 and its two-hundred day moving average is $24.78.

Spyglass Pharma (NASDAQ:SGP) last released its quarterly earnings results 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, research analysts forecast that Spyglass Pharma will post -2.55 EPS for the current year.

Institutional Investors Weigh In On Spyglass Pharma

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