Spyglass Pharma (NASDAQ:SGP) Price Target Raised to $43.00

Spyglass Pharma (NASDAQ:SGP) had its price objective increased by HC Wainwright from $37.00 to $43.00 in a report released on Thursday,Benzinga reports. They currently have a buy rating on the stock.

A number of other brokerages have also recently commented on SGP. UBS Group reaffirmed a “buy” rating on shares of Spyglass Pharma in a research note on Monday, October 5th. Raymond James Financial started coverage on shares of Spyglass Pharma in a research note on Friday, August 14th. They set an “outperform” rating and a $39.00 price objective on the stock. Wall Street Zen upgraded shares of Spyglass Pharma from a “sell” rating to a “hold” rating in a report on Saturday, October 31st. Finally, Weiss Ratings downgraded shares of Spyglass Pharma from a “sell (e+)” rating to a “sell (e)” rating in a research note on Friday, September 25th. Seven investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $45.83.

Spyglass Pharma Trading Down 1.3%

NASDAQ SGP opened at $32.88 on Thursday. The stock has a 50-day simple moving average of $28.78 and a 200 day simple moving average of $24.83. The company has a market capitalization of $1.10 billion and a PE ratio of -4.25. Spyglass Pharma has a 12 month low of $17.06 and a 12 month high of $39.92.

Spyglass Pharma (NASDAQ:SGP) last issued its earnings results on Thursday, November 12th. The company reported ($0.73) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.07). As a group, sell-side analysts predict that Spyglass Pharma will post -2.55 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Spyglass Pharma

Large investors have recently modified their holdings of the business. Bank of New York Mellon Corp acquired a new position in shares of Spyglass Pharma in the 2nd quarter valued at approximately $533,000. Bank of America Corp DE bought a new stake in Spyglass Pharma during the 1st quarter worth approximately $726,000. The Manufacturers Life Insurance Company acquired a new stake in Spyglass Pharma during the 1st quarter worth approximately $308,000. First Light Asset Management LLC acquired a new stake in Spyglass Pharma during the 1st quarter worth approximately $9,716,000. Finally, Affinity Asset Advisors LLC bought a new position in Spyglass Pharma in the first quarter valued at approximately $6,478,000.

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.