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

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

Spyglass Pharma Trading Up 1.9%

Shares of NASDAQ SGP traded up $0.45 during trading on Thursday, reaching $24.27. The company had a trading volume of 31,136 shares, 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 business’s 50 day moving average is $24.52.

Wall Street Analysts Forecast Growth

SGP has been the subject of a number of recent analyst reports. Leerink Partners cut shares of Spyglass Pharma to a “market perform” rating in a research report on Tuesday, March 3rd. Zacks Research upgraded shares of Spyglass Pharma to a “hold” rating in a research note on Wednesday, March 4th. Wall Street Zen downgraded Spyglass Pharma from a “hold” rating to a “sell” rating in a report on Saturday, March 28th. Citigroup began coverage on Spyglass Pharma in a report on Tuesday, March 3rd. They set a “buy” rating and a $42.00 price target for the company. Finally, HC Wainwright initiated coverage on Spyglass Pharma in a research report on Tuesday, March 10th. They issued a “buy” rating and a $37.00 price objective for the company. Five research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus 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).