Spyglass Pharma (NASDAQ:SGP) Cut to “Sell” at Wall Street Zen

Wall Street Zen lowered shares of Spyglass Pharma (NASDAQ:SGP) from a hold rating to a sell rating in a report published on Saturday morning,Wall Street Zen reports.

SGP has been the subject of a number of other research reports. Weiss Ratings cut shares of Spyglass Pharma from a “sell (e+)” rating to a “sell (e)” rating in a research note on Friday, September 25th. Raymond James Financial started coverage on shares of Spyglass Pharma in a research report on Friday, August 14th. They set an “outperform” rating and a $39.00 target price on the stock. Seven investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $44.00.

Spyglass Pharma Trading Up 2.7%

Shares of NASDAQ:SGP opened at $25.59 on Friday. The firm has a market capitalization of $855.47 million and a PE ratio of -3.66. Spyglass Pharma has a 1-year low of $17.06 and a 1-year high of $32.44. The business’s 50 day moving average is $26.37 and its 200-day moving average is $23.32.

Spyglass Pharma (NASDAQ:SGP) last issued its earnings results on Thursday, August 6th. The company reported ($0.59) EPS for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.11). On average, sell-side analysts predict that Spyglass Pharma will post -2.55 EPS for the current year.

Hedge Funds Weigh In On Spyglass Pharma

Institutional investors have recently bought and sold shares of the business. The Manufacturers Life Insurance Company bought a new stake in shares of Spyglass Pharma during the first quarter worth $308,000. Bank of New York Mellon Corp bought a new position in shares of Spyglass Pharma in the second quarter valued at about $533,000. Bank of America Corp DE acquired a new position in Spyglass Pharma during the 1st quarter worth about $726,000. Monashee Investment Management LLC bought a new stake in Spyglass Pharma during the 1st quarter worth about $2,461,000. Finally, Affinity Asset Advisors LLC bought a new stake in Spyglass Pharma during the 1st quarter worth about $6,478,000.

Spyglass Pharma Company Profile

SpyGlass Pharma, Inc is a clinical-stage ophthalmic pharmaceutical company developing sustained-release drug-delivery technologies for the treatment of eye diseases. The company’s platform is designed to deliver medication inside the eye over extended periods, with the goal of reducing reliance on daily eye drops and improving treatment adherence.

SpyGlass Pharma’s lead development programs focus on glaucoma and ocular hypertension, conditions in which elevated intraocular pressure can damage the optic nerve and lead to vision loss.