Spyglass Pharma, Inc. (NASDAQ:SGP – Get Free Report)’s share price dropped 8.2% on Monday . The company traded as low as $20.66 and last traded at $20.67. Approximately 42,494 shares changed hands during mid-day trading, a decline of 61% from the average daily volume of 109,023 shares. The stock had previously closed at $22.52.
Analysts Set New Price Targets
Separately, Wall Street Zen cut Spyglass Pharma from a “hold” rating to a “sell” rating in a research note on Saturday, March 28th. Five equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $45.00.
Check Out Our Latest Stock Report on SGP
Spyglass Pharma Price Performance
Spyglass Pharma (NASDAQ:SGP – Get Free Report) last announced its quarterly earnings data on Thursday, May 14th. The company reported ($0.69) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.67) by ($0.02).
Institutional Inflows and Outflows
Institutional investors have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company purchased a new stake in shares of Spyglass Pharma in the 1st quarter worth approximately $308,000. Bank of America Corp DE bought a new stake in Spyglass Pharma during the 1st quarter valued at $726,000. Monashee Investment Management LLC purchased a new position in shares of Spyglass Pharma in the 1st quarter valued at $2,461,000. Affinity Asset Advisors LLC bought a new position in shares of Spyglass Pharma in the 1st quarter worth $6,478,000. Finally, First Light Asset Management LLC purchased a new stake in shares of Spyglass Pharma during the 1st quarter worth $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).
Featured Stories
- Five stocks we like better than Spyglass Pharma
- The Phase 3 Failure That Sent Biotech Winners and Losers in Opposite Directions
- Why Micron Is Doubling Down While the HBM Shortage Persists
- China’s Helium Ban Could Reshape the AI Supply Chain
- Analysts See Major Upside for These 5 Stocks
Receive News & Ratings for Spyglass Pharma Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Spyglass Pharma and related companies with MarketBeat.com's FREE daily email newsletter.
