Spyglass Pharma, Inc. (NASDAQ:SGP) Receives $45.00 Consensus Target Price from Analysts

Spyglass Pharma, Inc. (NASDAQ:SGPGet Free Report) has been given an average recommendation of “Moderate Buy” by the six research firms that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12-month target price among brokers that have covered the stock in the last year is $45.00.

SGP has been the subject of several analyst reports. Jefferies Financial Group started coverage on shares of Spyglass Pharma in a research note on Tuesday, March 3rd. They issued a “buy” rating and a $62.00 price objective for the company. Stifel Nicolaus started 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. Zacks Research upgraded shares of Spyglass Pharma to a “hold” rating in a research report on Wednesday, March 4th. Leerink Partners cut Spyglass Pharma to a “market perform” rating in a research note on Tuesday, March 3rd. Finally, HC Wainwright initiated coverage on Spyglass Pharma in a research report on Tuesday, March 10th. They set a “buy” rating and a $37.00 price target on the stock.

Check Out Our Latest Research Report on Spyglass Pharma

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of SGP. The Manufacturers Life Insurance Company acquired a new position in Spyglass Pharma in the first quarter valued at about $308,000. Bank of America Corp DE bought a new stake in Spyglass Pharma during the first quarter worth about $726,000. Monashee Investment Management LLC acquired a new stake in Spyglass Pharma during the first quarter worth about $2,461,000. Affinity Asset Advisors LLC bought a new position in Spyglass Pharma in the 1st quarter valued at about $6,478,000. Finally, First Light Asset Management LLC bought a new position in Spyglass Pharma in the 1st quarter valued at about $9,716,000.

Spyglass Pharma Trading Down 1.1%

SGP stock opened at $20.62 on Wednesday. Spyglass Pharma has a fifty-two week low of $19.45 and a fifty-two week high of $32.44. The stock’s fifty day moving average price is $23.70.

Spyglass Pharma (NASDAQ:SGPGet Free Report) last announced its earnings results on Thursday, May 14th. The company reported ($0.69) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.67) by ($0.02).

About Spyglass Pharma

(Get Free Report)

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).

Further Reading

Analyst Recommendations for Spyglass Pharma (NASDAQ:SGP)

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