Analysts Set Spyglass Pharma, Inc. (NASDAQ:SGP) Target Price at $44.00

Shares of Spyglass Pharma, Inc. (NASDAQ:SGP) have earned an average recommendation of “Moderate Buy” from the eight ratings firms that are covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and six have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $44.00.

A number of brokerages recently weighed in on SGP. Raymond James Financial assumed coverage on shares of Spyglass Pharma in a report on Friday, August 14th. They issued an “outperform” rating and a $39.00 price objective for the company. Weiss Ratings raised Spyglass Pharma from a “sell (e)” rating to a “sell (e+)” rating in a report on Thursday, August 20th.

Institutional Investors Weigh In On Spyglass Pharma

Several large investors have recently bought and sold shares of SGP. Bank of New York Mellon Corp purchased a new position in Spyglass Pharma in the 2nd quarter worth about $533,000. Bank of America Corp DE bought a new stake in shares of Spyglass Pharma in the first quarter worth approximately $726,000. The Manufacturers Life Insurance Company purchased a new position in shares of Spyglass Pharma during the first quarter valued at approximately $308,000. First Light Asset Management LLC purchased a new position in shares of Spyglass Pharma during the first quarter valued at approximately $9,716,000. Finally, Affinity Asset Advisors LLC bought a new position in Spyglass Pharma during the first quarter valued at approximately $6,478,000.

Spyglass Pharma Stock Performance

Shares of SGP stock opened at $28.94 on Tuesday. Spyglass Pharma has a one year low of $17.06 and a one year high of $32.44. The company’s 50-day moving average is $23.48 and its 200 day moving average is $23.34. The company has a market capitalization of $967.46 million and a price-to-earnings ratio of -4.13.

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

About Spyglass Pharma

We are a late-stage biopharmaceutical company dedicated to transforming the treatment paradigm for patients living with chronic eye conditions through long-acting, sustained drug delivery of approved medicines. Our mission is to significantly improve the lives of patients with chronic eye conditions by developing durable drug delivery solutions that can empower patients and surgeons with confidence in long-term disease control and vision preservation. Our lead product candidate, the Bimatoprost Drug Pad-IOL System (BIM-IOL System), comprising novel, proprietary drug pads attached to our intraocular lens (IOL), is designed to be implanted during routine cataract surgery to reduce elevated intraocular pressure (IOP) in patients who have either open-angle glaucoma (OAG) or ocular hypertension (OHT).