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

Shares of Spyglass Pharma, Inc. (NASDAQ:SGP) have been given an average recommendation of “Moderate Buy” by the six research firms that are covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $45.00.

SGP has been the topic of several research analyst reports. HC Wainwright began coverage on shares of Spyglass Pharma in a research report on Tuesday, March 10th. They issued a “buy” rating and a $37.00 target price on the stock. Wall Street Zen lowered shares of Spyglass Pharma from a “hold” rating to a “sell” rating in a research report on Saturday. Stifel Nicolaus initiated coverage on shares of Spyglass Pharma in a report on Tuesday, March 3rd. They issued a “buy” rating and a $42.00 price target on the stock. Citigroup began coverage on shares of Spyglass Pharma in a research note on Tuesday, March 3rd. They set a “buy” rating and a $42.00 price objective for the company. Finally, Zacks Research upgraded Spyglass Pharma to a “hold” rating in a report on Wednesday, March 4th.

Spyglass Pharma Trading Up 3.4%

Spyglass Pharma stock opened at $23.37 on Tuesday. Spyglass Pharma has a 52 week low of $20.16 and a 52 week high of $32.44.

Spyglass Pharma (NASDAQ:SGP) last posted its quarterly earnings results on Thursday, March 26th. The company reported ($5.72) EPS for the quarter, beating the consensus estimate of ($6.61) by $0.89.

Insider Transactions at Spyglass Pharma

In other news, Director Ra Capital Management, L.P. purchased 3,690,000 shares of the company’s stock in a transaction on Monday, February 9th. The stock was bought at an average cost of $16.00 per share, for a total transaction of $59,040,000.00. Following the completion of the purchase, the director directly owned 5,966,439 shares of the company’s stock, valued at $95,463,024. The trade was a 162.10% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink.

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).