Spyglass Pharma (NASDAQ:SGP) Posts Quarterly Earnings Results, Misses Expectations By $0.07 EPS

Spyglass Pharma (NASDAQ:SGP) issued its quarterly earnings results on Wednesday. The company reported ($0.73) EPS for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.07), Zacks reports.

Spyglass Pharma Stock Up 2.3%

Shares of Spyglass Pharma stock traded up $0.79 on Wednesday, hitting $34.97. The stock had a trading volume of 77,565 shares, compared to its average volume of 109,135. Spyglass Pharma has a one year low of $17.06 and a one year high of $39.92. The stock has a market cap of $1.17 billion and a price-to-earnings ratio of -5.00. The stock’s 50-day simple moving average is $28.44 and its two-hundred day simple moving average is $24.68.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on SGP shares. HC Wainwright reaffirmed a “buy” rating and set a $37.00 price target on shares of Spyglass Pharma in a research report on Wednesday, October 21st. UBS Group reiterated a “buy” rating on shares of Spyglass Pharma in a report on Monday, October 5th. Weiss Ratings cut shares of Spyglass Pharma from a “sell (e+)” rating to a “sell (e)” rating in a research report on Friday, September 25th. Wall Street Zen raised Spyglass Pharma from a “sell” rating to a “hold” rating in a research note on Saturday, October 31st. Finally, Raymond James Financial began coverage on Spyglass Pharma in a research note on Friday, August 14th. They issued an “outperform” rating and a $39.00 target price for the company. Seven research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $44.00.

About Spyglass Pharma

SpyGlass Pharma is a clinical-stage ophthalmology company developing sustained-release drug delivery systems for chronic eye diseases. Its research is focused on reducing reliance on patients’ regular use of eye drops. The company’s lead program is a bimatoprost drug delivery system being developed to treat glaucoma and ocular hypertension. Bimatoprost is a medication used to lower eye pressure, and SpyGlass is studying a delivery approach intended to provide treatment over an extended period. SpyGlass Pharma’s work centers on advancing this ophthalmic delivery platform and its lead program through clinical development.