Spyglass Pharma, Inc. (SGP) – What Are Brokerages Thinking About This Stock?

Shares of Spyglass Pharma, Inc. (NASDAQ:SGP) have been assigned an average rating of “Moderate Buy” from the nine analysts that are presently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and seven have given a buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $44.00.

SGP has been the subject of several research analyst reports. Wall Street Zen lowered Spyglass Pharma from a “hold” rating to a “sell” rating in a research note on Saturday, October 3rd. HC Wainwright reaffirmed a “buy” rating and issued a $37.00 price objective on shares of Spyglass Pharma in a research note on Monday, October 5th. Raymond James Financial initiated coverage on Spyglass Pharma in a report on Friday, August 14th. They set an “outperform” rating and a $39.00 target price for the company. Weiss Ratings downgraded shares of Spyglass Pharma from a “sell (e+)” rating to a “sell (e)” rating in a research report on Friday, September 25th. Finally, UBS Group reissued a “buy” rating on shares of Spyglass Pharma in a research report on Monday, October 5th.

Hedge Funds Weigh In On Spyglass Pharma

A number of hedge funds have recently made changes to their positions in the business. First Light Asset Management LLC acquired a new position in shares of Spyglass Pharma during the 1st quarter valued at $9,716,000. Affinity Asset Advisors LLC purchased a new stake in Spyglass Pharma during the 1st quarter worth $6,478,000. Monashee Investment Management LLC acquired a new stake in Spyglass Pharma in the 1st quarter valued at $2,461,000. Bank of America Corp DE acquired a new stake in Spyglass Pharma in the 1st quarter valued at $726,000. Finally, Bank of New York Mellon Corp acquired a new stake in Spyglass Pharma in the 2nd quarter valued at $533,000.

Spyglass Pharma Trading Up 6.3%

Shares of SGP opened at $26.16 on Wednesday. The firm has a market capitalization of $874.53 million and a P/E ratio of -3.74. The stock’s fifty day simple moving average is $26.58 and its 200 day simple moving average is $23.28. Spyglass Pharma has a twelve month low of $17.06 and a twelve month high of $32.44.

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

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.