Spyglass Pharma, Inc. (NASDAQ:SGP) Stock Has Consensus Price Target of $45.83

Spyglass Pharma, Inc. (NASDAQ:SGP) has received an average rating of “Moderate Buy” from the nine analysts that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation and seven have given a buy recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $45.83.

SGP has been the topic of a number of research reports. Weiss Ratings upgraded Spyglass Pharma from a “sell (e)” rating to a “sell (d-)” rating in a research note on Friday. UBS Group reiterated a “buy” rating on shares of Spyglass Pharma in a research report on Monday, October 5th. Raymond James Financial initiated coverage on Spyglass Pharma in a report on Friday, August 14th. They issued an “outperform” rating and a $39.00 target price on the stock. Stifel Nicolaus raised their target price on Spyglass Pharma from $42.00 to $44.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Wall Street Zen upgraded Spyglass Pharma from a “sell” rating to a “hold” rating in a research note on Saturday, October 31st.

Spyglass Pharma Trading Down 1.3%

NASDAQ:SGP traded down $0.44 during trading hours on Friday, reaching $32.88. The company had a trading volume of 39,457 shares, compared to its average volume of 115,995. Spyglass Pharma has a 52 week low of $17.06 and a 52 week high of $39.92. The firm has a market cap of $1.10 billion and a price-to-earnings ratio of -4.25. The firm’s 50 day moving average price is $28.78 and its 200-day moving average price is $24.83.

Spyglass Pharma (NASDAQ:SGP) last announced its earnings results on Thursday, November 12th. The company reported ($0.73) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.07). On average, 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 hedge funds and other institutional investors have recently bought and sold shares of the stock. The Manufacturers Life Insurance Company purchased a new stake in Spyglass Pharma in the 1st quarter worth approximately $308,000. Bank of New York Mellon Corp bought a new position in shares of Spyglass Pharma during the 2nd quarter valued at about $533,000. Bank of America Corp DE purchased a new position in Spyglass Pharma during the 1st quarter valued at approximately $726,000. Monashee Investment Management LLC bought a new stake in Spyglass Pharma in the first quarter worth $2,461,000. Finally, Affinity Asset Advisors LLC purchased a new stake in shares of Spyglass Pharma during the 1st quarter valued at about $6,478,000.

About Spyglass Pharma

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.