Spyglass Pharma (NASDAQ:SGP – Get Free Report) was downgraded by stock analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday, Wall Street Zen reports.
Several other equities research analysts have also commented on SGP. Raymond James Financial started coverage on Spyglass Pharma in a research note on Friday, August 14th. They set an “outperform” rating and a $39.00 price target for the company. Weiss Ratings lowered Spyglass Pharma from a “sell (e+)” rating to a “sell (e)” rating in a research note on Friday, September 25th. Six analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $44.00.
Read Our Latest Stock Report on Spyglass Pharma
Spyglass Pharma Price Performance
Spyglass Pharma (NASDAQ:SGP – Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.59) EPS for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.11). As a group, equities research analysts anticipate that Spyglass Pharma will post -2.55 earnings per share for the current year.
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in SGP. First Light Asset Management LLC acquired a new position in shares of Spyglass Pharma during the first quarter worth about $9,716,000. Affinity Asset Advisors LLC acquired a new stake in shares of Spyglass Pharma in the first quarter valued at about $6,478,000. Monashee Investment Management LLC purchased a new stake in shares of Spyglass Pharma during the 1st quarter valued at about $2,461,000. Bank of America Corp DE purchased a new stake in shares of Spyglass Pharma during the 1st quarter valued at about $726,000. Finally, Bank of New York Mellon Corp acquired a new position in Spyglass Pharma during the 2nd quarter worth approximately $533,000.
About Spyglass Pharma
SpyGlass Pharma, Inc is a clinical-stage ophthalmic pharmaceutical company developing sustained-release drug-delivery technologies for the treatment of eye diseases. The company’s platform is designed to deliver medication inside the eye over extended periods, with the goal of reducing reliance on daily eye drops and improving treatment adherence.
SpyGlass Pharma’s lead development programs focus on glaucoma and ocular hypertension, conditions in which elevated intraocular pressure can damage the optic nerve and lead to vision loss.
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