Spyglass Pharma (NASDAQ:SGP) Announces Earnings Results

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

Spyglass Pharma Trading Up 2.3%

NASDAQ SGP traded up $0.79 during trading hours on Wednesday, reaching $34.97. 77,565 shares of the company’s stock were exchanged, compared to its average volume of 109,223. The stock has a market cap of $1.17 billion and a PE ratio of -5.00. Spyglass Pharma has a one year low of $17.06 and a one year high of $39.92. The firm has a fifty day moving average of $28.44 and a 200-day moving average of $24.68.

Analyst Upgrades and Downgrades

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

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.