Spyglass Pharma, Inc. (NASDAQ:SGP – Get Free Report)’s share price hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $17.56 and last traded at $17.56, with a volume of 103659 shares trading hands. The stock had previously closed at $18.94.
Wall Street Analyst Weigh In
A number of research firms have weighed in on SGP. HC Wainwright began coverage on Spyglass Pharma in a research report on Tuesday, March 10th. They set a “buy” rating and a $37.00 price target for the company. Stifel Nicolaus initiated coverage on shares of Spyglass Pharma in a research report on Tuesday, March 3rd. They issued a “buy” rating and a $42.00 price objective on the stock. Zacks Research raised shares of Spyglass Pharma to a “hold” rating in a research report on Wednesday, March 4th. Leerink Partners cut shares of Spyglass Pharma to a “market perform” rating in a report on Tuesday, March 3rd. Finally, Citigroup initiated coverage on shares of Spyglass Pharma in a research report on Tuesday, March 3rd. They issued a “buy” rating and a $42.00 target price for the company. Five equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $45.00.
Check Out Our Latest Research Report on SGP
Spyglass Pharma Stock Performance
Spyglass Pharma (NASDAQ:SGP – Get Free Report) last announced its quarterly earnings results on Thursday, May 14th. The company reported ($0.69) EPS for the quarter, missing analysts’ consensus estimates of ($0.67) by ($0.02).
Institutional Investors Weigh In On Spyglass Pharma
Several hedge funds have recently bought and sold shares of the company. First Light Asset Management LLC acquired a new position in Spyglass Pharma during the first quarter worth approximately $9,716,000. Affinity Asset Advisors LLC acquired a new stake in shares of Spyglass Pharma in the first quarter valued at approximately $6,478,000. Monashee Investment Management LLC bought a new position in shares of Spyglass Pharma during the 1st quarter worth approximately $2,461,000. Bank of America Corp DE bought a new position in shares of Spyglass Pharma during the 1st quarter worth approximately $726,000. Finally, The Manufacturers Life Insurance Company acquired a new position in shares of Spyglass Pharma during the 1st quarter worth approximately $308,000.
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).
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