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

Spyglass Pharma (NASDAQ:SGP) was downgraded by research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Saturday.

A number of other brokerages have also issued reports on SGP. Jefferies Financial Group started coverage on Spyglass Pharma in a report on Tuesday, March 3rd. They issued a “buy” rating and a $62.00 price target for the company. Citigroup started coverage on shares of Spyglass Pharma in a report on Tuesday, March 3rd. They issued a “buy” rating and a $42.00 price objective for the company. Leerink Partners lowered shares of Spyglass Pharma to a “market perform” rating in a research note on Tuesday, March 3rd. Stifel Nicolaus began coverage on shares of Spyglass Pharma in a report on Tuesday, March 3rd. They set a “buy” rating and a $42.00 target price on the stock. Finally, HC Wainwright began coverage on shares of Spyglass Pharma in a research report on Tuesday, March 10th. They issued a “buy” rating and a $37.00 price target on the stock. Five analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $45.00.

Spyglass Pharma Stock Performance

SGP opened at $22.61 on Friday. Spyglass Pharma has a 12 month low of $20.16 and a 12 month high of $32.44.

Spyglass Pharma (NASDAQ:SGP) last issued its earnings results on Thursday, March 26th. The company reported ($5.72) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($6.61) by $0.89.

Insider Buying and Selling at Spyglass Pharma

In related news, Director Ra Capital Management, L.P. bought 3,690,000 shares of the firm’s stock in a transaction that occurred on Monday, February 9th. The shares were acquired at an average cost of $16.00 per share, for a total transaction of $59,040,000.00. Following the acquisition, the director directly owned 5,966,439 shares of the company’s stock, valued at $95,463,024. The trade was a 162.10% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

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).