Spyglass Pharma (NASDAQ:SGP) Raised to Hold at Wall Street Zen

by · The Cerbat Gem

Spyglass Pharma (NASDAQ:SGP – Get Free Report) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued on Saturday, Wall Street Zen reports.

Other equities analysts have also issued reports about the company. Weiss Ratings upgraded Spyglass Pharma from a “sell (e)” rating to a “sell (e+)” rating in a research note on Thursday, August 20th. Raymond James Financial assumed coverage on shares of Spyglass Pharma in a research note on Friday, August 14th. They set an “outperform” rating and a $39.00 price objective for the company. Six investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $44.00.

Read Our Latest Stock Report on Spyglass Pharma

Spyglass Pharma Stock Performance

SGP stock opened at $29.08 on Friday. The company has a 50 day moving average price of $24.97 and a two-hundred day moving average price of $23.33. The stock has a market capitalization of $972.14 million and a P/E ratio of -4.15. Spyglass Pharma has a one year low of $17.06 and a one year high of $32.44.

Spyglass Pharma (NASDAQ:SGP – Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.59) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.11). Research analysts forecast that Spyglass Pharma will post -2.55 earnings per share for the current fiscal year.

Institutional Trading of Spyglass Pharma

A number of hedge funds have recently made changes to their positions in SGP. Bank of New York Mellon Corp purchased a new stake in Spyglass Pharma during the 2nd quarter worth $533,000. Bank of America Corp DE bought a new stake in shares of Spyglass Pharma in the first quarter worth $726,000. First Light Asset Management LLC acquired 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 during the 1st quarter valued at $6,478,000. Finally, Monashee Investment Management LLC acquired a new position in Spyglass Pharma during the 1st quarter worth $2,461,000.

About Spyglass Pharma

(Get Free Report)

SpyGlass Pharma, Inc is a clinical-stage ophthalmic pharmaceutical company focused on developing long-acting treatments for chronic eye diseases. The company is developing drug-delivery technologies intended to reduce the need for patients to administer topical eye drops regularly.

Its lead development program, SGP-310, is an intraocular implant designed to provide sustained delivery of travoprost, a prostaglandin analog used to lower elevated intraocular pressure. The product is being developed for patients with primary open-angle glaucoma or ocular hypertension, conditions that can increase the risk of vision loss if left untreated.

SpyGlass Pharma’s platform is intended to support extended drug release inside the eye, potentially improving treatment consistency and adherence compared with daily topical medications.

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