Spyglass Pharma, Inc. (NASDAQ:SGP) Receives Consensus Rating of “Moderate Buy” from Brokerages

Spyglass Pharma, Inc. (NASDAQ:SGP) has received a consensus recommendation of “Moderate Buy” from the six ratings firms that are currently covering the stock, MarketBeat reports. One equities 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 analysts that have issued a report on the stock in the last year is $45.00.

A number of brokerages recently weighed in on SGP. Stifel Nicolaus assumed coverage on shares of Spyglass Pharma in a research report on Tuesday, March 3rd. They set a “buy” rating and a $42.00 price target for the company. Wall Street Zen lowered Spyglass Pharma from a “hold” rating to a “sell” rating in a research report on Saturday. HC Wainwright started coverage on Spyglass Pharma in a research note on Tuesday, March 10th. They set a “buy” rating and a $37.00 price objective on the stock. Citigroup started coverage on Spyglass Pharma in a research report on Tuesday, March 3rd. They issued a “buy” rating and a $42.00 target price for the company. Finally, Zacks Research upgraded Spyglass Pharma to a “hold” rating in a research note on Wednesday, March 4th.

Insider Transactions at Spyglass Pharma

In other news, Director Ra Capital Management, L.P. acquired 3,690,000 shares of the stock in a transaction on Monday, February 9th. The stock was bought at an average price of $16.00 per share, with a total value of $59,040,000.00. Following the completion of the transaction, the director directly owned 5,966,439 shares of the company’s stock, valued at $95,463,024. The trade was a 162.10% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Spyglass Pharma Price Performance

Shares of SGP stock opened at $23.37 on Tuesday. Spyglass Pharma has a fifty-two week low of $20.16 and a fifty-two week high of $32.44.

Spyglass Pharma (NASDAQ:SGP) last released its quarterly earnings data on Thursday, March 26th. The company reported ($5.72) earnings per share (EPS) for the quarter, topping the consensus estimate of ($6.61) by $0.89.

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).