Spyglass Pharma, Inc. (NASDAQ:SGP) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Spyglass Pharma, Inc. (NASDAQ:SGP) have earned an average recommendation of “Moderate Buy” from the six analysts that are presently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $45.00.

A number of equities research analysts recently weighed in on SGP shares. Jefferies Financial Group began coverage on Spyglass Pharma in a research report on Tuesday, March 3rd. They set a “buy” rating and a $62.00 target price on the stock. Leerink Partners lowered Spyglass Pharma to a “market perform” rating in a research report on Tuesday, March 3rd. Citigroup began coverage on Spyglass Pharma in a research report on Tuesday, March 3rd. They set a “buy” rating and a $42.00 target price on the stock. Stifel Nicolaus began coverage on Spyglass Pharma in a research report on Tuesday, March 3rd. They set a “buy” rating and a $42.00 target price on the stock. Finally, Zacks Research raised Spyglass Pharma to a “hold” rating in a research report on Wednesday, March 4th.

Spyglass Pharma Price Performance

SGP opened at $18.70 on Friday. The firm’s fifty day simple moving average is $21.62. Spyglass Pharma has a 52-week low of $17.06 and a 52-week high of $32.44.

Spyglass Pharma (NASDAQ:SGP) last issued its earnings results on Thursday, May 14th. The company reported ($0.69) earnings per share for the quarter, missing the consensus estimate of ($0.67) by ($0.02).

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. First Light Asset Management LLC acquired a new position in shares of Spyglass Pharma in the first quarter valued at about $9,716,000. Affinity Asset Advisors LLC acquired a new stake in Spyglass Pharma during the first quarter worth about $6,478,000. Monashee Investment Management LLC acquired a new stake in Spyglass Pharma during the first quarter worth about $2,461,000. Bank of America Corp DE acquired a new stake in Spyglass Pharma during the first quarter worth about $726,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in Spyglass Pharma during the first quarter worth about $308,000.

Spyglass Pharma Company Profile

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).