Spyglass Pharma (NASDAQ:SGP) 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 issued on Saturday.

Several other research analysts also recently issued reports on the stock. Leerink Partners downgraded shares of Spyglass Pharma to a “market perform” rating in a report on Tuesday, March 3rd. Citigroup started coverage on Spyglass Pharma in a report on Tuesday, March 3rd. They set a “buy” rating and a $42.00 price objective on the stock. Zacks Research raised Spyglass Pharma to a “hold” rating in a report on Wednesday, March 4th. HC Wainwright began coverage on Spyglass Pharma in a research report on Tuesday, March 10th. They issued a “buy” rating and a $37.00 target price for the company. Finally, Jefferies Financial Group started coverage on Spyglass Pharma in a research note on Tuesday, March 3rd. They set a “buy” rating and a $62.00 price target on the stock. Five analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Spyglass Pharma currently has a consensus rating of “Moderate Buy” and a consensus target price of $45.00.

Spyglass Pharma Stock Up 3.4%

SGP stock opened at $23.37 on Friday. Spyglass Pharma has a 1 year low of $20.16 and a 1 year high of $32.44.

Spyglass Pharma (NASDAQ:SGP) last issued its quarterly earnings data on Thursday, March 26th. The company reported ($5.72) EPS for the quarter, beating the consensus estimate of ($6.61) by $0.89.

Insider Activity

In other Spyglass Pharma news, Director Ra Capital Management, L.P. purchased 3,690,000 shares of the company’s stock in a transaction dated Monday, February 9th. The stock was purchased at an average price of $16.00 per share, with a total value of $59,040,000.00. Following the completion of the purchase, the director owned 5,966,439 shares of the company’s stock, valued at approximately $95,463,024. The trade was a 162.10% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link.

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).