Spyglass Pharma (NASDAQ:SGP) Shares Gap Up – Time to Buy?

Shares of Spyglass Pharma, Inc. (NASDAQ:SGP) gapped up prior to trading on Monday . The stock had previously closed at $18.81, but opened at $21.25. Spyglass Pharma shares last traded at $20.81, with a volume of 3,747 shares trading hands.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. HC Wainwright started coverage on shares of Spyglass Pharma in a research report on Tuesday, March 10th. They issued a “buy” rating and a $37.00 price target on the stock. Citigroup started coverage on shares of Spyglass Pharma in a research note on Tuesday, March 3rd. They issued a “buy” rating and a $42.00 target price for the company. Zacks Research upgraded shares of Spyglass Pharma to a “hold” rating in a report on Wednesday, March 4th. Leerink Partners cut shares of Spyglass Pharma to a “market perform” rating in a research report on Tuesday, March 3rd. Finally, Stifel Nicolaus started coverage on shares of Spyglass Pharma in a report on Tuesday, March 3rd. They issued a “buy” rating and a $42.00 price target for the company. Five investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, Spyglass Pharma has an average rating of “Moderate Buy” and a consensus price target of $45.00.

Spyglass Pharma Stock Up 1.6%

The firm has a 50-day moving average price of $21.29.

Spyglass Pharma (NASDAQ:SGP) last issued its quarterly earnings data on Thursday, May 14th. The company reported ($0.69) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.67) by ($0.02).

Institutional Investors Weigh In On Spyglass Pharma

Several large investors have recently made changes to their positions in SGP. The Manufacturers Life Insurance Company bought a new stake in shares of Spyglass Pharma during the first quarter worth $308,000. Bank of America Corp DE bought a new stake in Spyglass Pharma in the 1st quarter valued at $726,000. Monashee Investment Management LLC bought a new position in Spyglass Pharma during the 1st quarter worth about $2,461,000. Affinity Asset Advisors LLC bought a new position in Spyglass Pharma during the 1st quarter worth about $6,478,000. Finally, First Light Asset Management LLC acquired a new stake in shares of Spyglass Pharma in the 1st quarter valued at about $9,716,000.

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).