Spyglass Pharma (NASDAQ:SGP) Announces Quarterly Earnings Results, Misses Estimates By $0.07 EPS

Spyglass Pharma (NASDAQ:SGP) released its earnings results on Wednesday. The company reported ($0.73) earnings per share for the quarter, missing the consensus estimate of ($0.66) by ($0.07), Zacks reports.

Spyglass Pharma Stock Performance

Shares of NASDAQ SGP traded up $0.79 during midday trading on Wednesday, reaching $34.97. The stock had a trading volume of 77,565 shares, compared to its average volume of 109,135. The firm has a market cap of $1.17 billion and a price-to-earnings ratio of -5.00. The company’s 50 day moving average price is $28.44 and its 200 day moving average price is $24.68. Spyglass Pharma has a twelve month low of $17.06 and a twelve month high of $39.92.

Analyst Ratings Changes

A number of equities analysts have weighed in on SGP shares. Weiss Ratings downgraded Spyglass Pharma from a “sell (e+)” rating to a “sell (e)” rating in a research report on Friday, September 25th. UBS Group reaffirmed a “buy” rating on shares of Spyglass Pharma in a report on Monday, October 5th. Wall Street Zen raised Spyglass Pharma from a “sell” rating to a “hold” rating in a research note on Saturday, October 31st. HC Wainwright restated a “buy” rating and set a $37.00 target price on shares of Spyglass Pharma in a research note on Wednesday, October 21st. Finally, Raymond James Financial began coverage on shares of Spyglass Pharma in a research note on Friday, August 14th. They issued an “outperform” rating and a $39.00 price target on the stock. Seven research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Spyglass Pharma currently has an average rating of “Moderate Buy” and a consensus price target of $44.00.

About Spyglass Pharma

SpyGlass Pharma is a clinical-stage ophthalmology company developing sustained-release drug delivery systems for chronic eye diseases. Its research is focused on reducing reliance on patients’ regular use of eye drops. The company’s lead program is a bimatoprost drug delivery system being developed to treat glaucoma and ocular hypertension. Bimatoprost is a medication used to lower eye pressure, and SpyGlass is studying a delivery approach intended to provide treatment over an extended period. SpyGlass Pharma’s work centers on advancing this ophthalmic delivery platform and its lead program through clinical development.