Spyglass Pharma (NASDAQ:SGP) Stock Rating Cut to “Sell” at Wall Street Zen

Wall Street Zen cut shares of Spyglass Pharma (NASDAQ:SGP) from a hold rating to a sell rating in a report published on Saturday morning,Wall Street Zen reports.

SGP has been the topic of a number of other research reports. Weiss Ratings cut shares of Spyglass Pharma from a “sell (e+)” rating to a “sell (e)” rating in a research report on Friday, September 25th. Raymond James Financial began coverage on shares of Spyglass Pharma in a report on Friday, August 14th. They set an “outperform” rating and a $39.00 target price for the company. Six analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $44.00.

Spyglass Pharma Stock Performance

NASDAQ:SGP opened at $24.92 on Friday. Spyglass Pharma has a fifty-two week low of $17.06 and a fifty-two week high of $32.44. The firm has a market cap of $833.08 million and a PE ratio of -3.56. The business has a 50 day moving average price of $26.27 and a 200-day moving average price of $23.36.

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

Institutional Trading of Spyglass Pharma

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. First Light Asset Management LLC bought a new stake in Spyglass Pharma in the first quarter valued at $9,716,000. Affinity Asset Advisors LLC bought a new position in Spyglass Pharma in the 1st quarter worth $6,478,000. Monashee Investment Management LLC purchased a new stake in shares of Spyglass Pharma in the 1st quarter worth about $2,461,000. Bank of America Corp DE purchased a new stake in shares of Spyglass Pharma in the 1st quarter worth about $726,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of Spyglass Pharma during the 2nd quarter valued at about $533,000.

Spyglass Pharma Company Profile

SpyGlass Pharma, Inc is a clinical-stage ophthalmic pharmaceutical company developing sustained-release drug-delivery technologies for the treatment of eye diseases. The company’s platform is designed to deliver medication inside the eye over extended periods, with the goal of reducing reliance on daily eye drops and improving treatment adherence.

SpyGlass Pharma’s lead development programs focus on glaucoma and ocular hypertension, conditions in which elevated intraocular pressure can damage the optic nerve and lead to vision loss.