Spyglass Pharma’s (SGP) “Buy” Rating Reaffirmed at HC Wainwright

Spyglass Pharma (NASDAQ:SGP)‘s stock had its “buy” rating restated by stock analysts at HC Wainwright in a research note issued on Wednesday, Benzinga reports. They presently have a $37.00 price target on the stock. HC Wainwright‘s target price indicates a potential upside of 33.53% from the company’s previous close.

Several other equities analysts have also recently commented on SGP. Wall Street Zen cut shares of Spyglass Pharma from a “hold” rating to a “sell” rating in a research note on Saturday, October 3rd. Weiss Ratings downgraded shares of Spyglass Pharma from a “sell (e+)” rating to a “sell (e)” rating in a report on Friday, September 25th. Raymond James Financial started coverage on shares of Spyglass Pharma in a research report on Friday, August 14th. They set an “outperform” rating and a $39.00 price objective for the company. Finally, UBS Group reiterated a “buy” rating on shares of Spyglass Pharma in a research note on Monday, October 5th. Seven equities research 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. Based on data from MarketBeat.com, Spyglass Pharma presently has an average rating of “Moderate Buy” and a consensus price target of $44.00.

Spyglass Pharma Trading Up 5.9%

NASDAQ:SGP traded up $1.55 during mid-day trading on Wednesday, hitting $27.71. 86,093 shares of the company’s stock traded hands, compared to its average volume of 107,525. The firm has a market capitalization of $926.35 million and a price-to-earnings ratio of -3.96. The firm has a 50 day moving average of $26.58 and a two-hundred day moving average of $23.28. Spyglass Pharma has a 12 month low of $17.06 and a 12 month high of $32.44.

Spyglass Pharma (NASDAQ:SGP) last issued its quarterly earnings results 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 expect that Spyglass Pharma will post -2.55 earnings per share for the current year.

Institutional Trading of Spyglass Pharma

Several institutional investors have recently made changes to their positions in SGP. First Light Asset Management LLC bought a new stake in Spyglass Pharma in the first quarter valued at about $9,716,000. Affinity Asset Advisors LLC bought a new position in Spyglass Pharma during the first quarter worth about $6,478,000. Monashee Investment Management LLC bought a new position in shares of Spyglass Pharma during the 1st quarter worth approximately $2,461,000. Bank of America Corp DE bought a new stake in Spyglass Pharma in the first quarter valued at $726,000. Finally, Bank of New York Mellon Corp acquired a new position in Spyglass Pharma during the second quarter worth $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.