Shares of Spyglass Pharma, Inc. (NASDAQ:SGP – Get Free Report) gapped up prior to trading on Monday . The stock had previously closed at $18.81, but opened at $21.25. Spyglass Pharma shares last traded at $20.81, with a volume of 3,747 shares traded.
Analysts Set New Price Targets
SGP has been the subject of several analyst reports. HC Wainwright assumed coverage on Spyglass Pharma in a report on Tuesday, March 10th. They issued a “buy” rating and a $37.00 price target for the company. Wall Street Zen downgraded Spyglass Pharma from a “hold” rating to a “sell” rating in a research report on Saturday, March 28th. Leerink Partners lowered Spyglass Pharma to a “market perform” rating in a research note on Tuesday, March 3rd. Zacks Research upgraded Spyglass Pharma to a “hold” rating in a research report on Wednesday, March 4th. Finally, Citigroup started coverage on Spyglass Pharma in a report on Tuesday, March 3rd. They issued a “buy” rating and a $42.00 price target for the company. Five investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, Spyglass Pharma presently has an average rating of “Moderate Buy” and an average price target of $45.00.
Get Our Latest Analysis on SGP
Spyglass Pharma Stock Up 2.8%
Spyglass Pharma (NASDAQ:SGP – Get Free Report) last released its quarterly earnings data 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 large investors have recently made changes to their positions in the business. The Manufacturers Life Insurance Company acquired a new position in shares of Spyglass Pharma during the 1st quarter valued at $308,000. Bank of America Corp DE purchased a new stake in shares of Spyglass Pharma in the first quarter worth about $726,000. Monashee Investment Management LLC acquired a new stake in shares of Spyglass Pharma in the first quarter valued at about $2,461,000. Affinity Asset Advisors LLC acquired a new position in Spyglass Pharma during the 1st quarter worth approximately $6,478,000. Finally, First Light Asset Management LLC purchased a new position in Spyglass Pharma in the 1st quarter worth approximately $9,716,000.
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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