Spyglass Pharma, Inc. (NASDAQ:SGP) Stock Rated "Moderate Buy" by Wall Street Brokerages

Key Points

• Analyst sentiment is “Moderate Buy”: Seven of nine analysts rate Spyglass Pharma a buy, and the average one-year price target is $45.83. HC Wainwright raised its target from $37 to $43.
• Shares fell 1.3% to $32.88 on Friday. Spyglass reported a quarterly loss of $0.73 per share, missing the $0.66 loss analysts expected.
• Spyglass is a clinical-stage ophthalmology company developing sustained-release treatments, including a bimatoprost delivery system for glaucoma and ocular hypertension.

Spyglass Pharma, Inc. (NASDAQ:SGP - Get Free Report) has been assigned an average rating of "Moderate Buy" from the nine analysts that are presently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and seven have assigned a buy recommendation to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $45.83.

A number of research firms recently commented on SGP. Weiss Ratings raised shares of Spyglass Pharma from a "sell (e)" rating to a "sell (d-)" rating in a report on Friday. Raymond James Financial started coverage on shares of Spyglass Pharma in a research report on Friday, August 14th. They issued an "outperform" rating and a $39.00 price objective for the company. HC Wainwright upped their target price on Spyglass Pharma from $37.00 to $43.00 and gave the stock a "buy" rating in a research note on Thursday. UBS Group restated a "buy" rating on shares of Spyglass Pharma in a research report on Monday, October 5th. Finally, Wall Street Zen upgraded Spyglass Pharma from a "sell" rating to a "hold" rating in a research report on Saturday, October 31st.

Spyglass Pharma Stock Down 1.3%

Spyglass Pharma stock traded down $0.44 during midday trading on Friday, hitting $32.88. 39,457 shares of the stock were exchanged, compared to its average volume of 115,995. Spyglass Pharma has a 52-week low of $17.06 and a 52-week high of $39.92. The business's 50-day moving average price is $28.78 and its 200-day moving average price is $24.83. The stock has a market capitalization of $1.10 billion and a price-to-earnings ratio of -4.25.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Bank of New York Mellon Corp purchased a new position in shares of Spyglass Pharma in the second quarter valued at about $533,000. Bank of America Corp DE bought a new stake in shares of Spyglass Pharma during the first quarter valued at approximately $726,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Spyglass Pharma in the 1st quarter worth about $308,000. First Light Asset Management LLC purchased a new stake in Spyglass Pharma in the first quarter worth about $9,716,000. Finally, Affinity Asset Advisors LLC bought a new position in Spyglass Pharma during the 1st quarter valued at approximately $6,478,000.

Spyglass Pharma Company Profile

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.

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