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

Shares of Spyglass Pharma, Inc. (NASDAQ:SGP) have been given an average rating of “Moderate Buy” by the six brokerages that are covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $45.00.

A number of research analysts have recently issued reports on the company. Leerink Partners downgraded Spyglass Pharma to a “market perform” rating in a research note on Tuesday, March 3rd. HC Wainwright assumed coverage on Spyglass Pharma in a research note on Tuesday, March 10th. They issued a “buy” rating and a $37.00 price objective on the stock. Citigroup assumed coverage on Spyglass Pharma in a research note on Tuesday, March 3rd. They issued a “buy” rating and a $42.00 price objective on the stock. Jefferies Financial Group assumed coverage on Spyglass Pharma in a research note on Tuesday, March 3rd. They issued a “buy” rating and a $62.00 price objective on the stock. Finally, Wall Street Zen downgraded Spyglass Pharma from a “hold” rating to a “sell” rating in a research note on Saturday, March 28th.

Spyglass Pharma Stock Performance

Shares of NASDAQ:SGP opened at $23.52 on Friday. The company has a 50-day simple moving average of $25.57. Spyglass Pharma has a 1 year low of $20.15 and a 1 year high of $32.44.

Spyglass Pharma (NASDAQ:SGP) last announced its quarterly earnings data on Thursday, March 26th. The company reported ($5.72) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business’s stock in a transaction on Monday, February 9th. The shares were acquired at an average price of $16.00 per share, for a total transaction of $59,040,000.00. Following the completion of the acquisition, the director owned 5,966,439 shares in the company, valued at approximately $95,463,024. The trade was a 162.10% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

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).