Spyglass Pharma (NASDAQ:SGP) Issues Quarterly Earnings Results, Misses Estimates By $0.02 EPS

Spyglass Pharma (NASDAQ:SGP) posted its earnings results on Thursday. The company reported ($0.69) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.67) by ($0.02), Zacks reports.

Spyglass Pharma Stock Up 1.9%

Shares of SGP traded up $0.45 during midday trading on Thursday, hitting $24.27. 31,136 shares of the stock were exchanged, compared to its average volume of 103,101. Spyglass Pharma has a 52-week low of $20.15 and a 52-week high of $32.44. The stock’s fifty day moving average is $24.52.

Analyst Ratings Changes

SGP has been the subject of several recent analyst reports. Citigroup initiated coverage on Spyglass Pharma in a research note on Tuesday, March 3rd. They set a “buy” rating and a $42.00 target price for the company. Stifel Nicolaus initiated coverage on Spyglass Pharma in a research note on Tuesday, March 3rd. They set a “buy” rating and a $42.00 target price for the company. Leerink Partners cut Spyglass Pharma to a “market perform” rating in a research note on Tuesday, March 3rd. Wall Street Zen cut Spyglass Pharma from a “hold” rating to a “sell” rating in a research note on Saturday, March 28th. Finally, Zacks Research upgraded Spyglass Pharma to a “hold” rating in a research report on Wednesday, March 4th. Five research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $45.00.

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).