Spyglass Pharma (NASDAQ:SGP) Announces Quarterly Earnings Results, Misses Expectations By $0.02 EPS

Spyglass Pharma (NASDAQ:SGP) released its quarterly earnings data on Thursday. The company reported ($0.69) earnings per share for the quarter, missing the consensus estimate of ($0.67) by ($0.02), Zacks reports.

Spyglass Pharma Price Performance

Shares of SGP traded down $1.06 during mid-day trading on Friday, reaching $23.21. 34,905 shares of the company were exchanged, compared to its average volume of 102,097. Spyglass Pharma has a 52 week low of $20.15 and a 52 week high of $32.44. The stock has a 50 day simple moving average of $24.45.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. HC Wainwright assumed coverage on Spyglass Pharma in a research note on Tuesday, March 10th. They set a “buy” rating and a $37.00 price target on the stock. Citigroup assumed coverage on Spyglass Pharma in a research note on Tuesday, March 3rd. They set a “buy” rating and a $42.00 price target on the stock. Jefferies Financial Group assumed coverage on Spyglass Pharma in a research note on Tuesday, March 3rd. They set a “buy” rating and a $62.00 price target on the stock. Leerink Partners lowered Spyglass Pharma to a “market perform” rating in a research note on Tuesday, March 3rd. Finally, Stifel Nicolaus assumed coverage on Spyglass Pharma in a research note on Tuesday, March 3rd. They set a “buy” rating and a $42.00 price target on the stock. Five research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $45.00.

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).