Analysts Set Spyglass Pharma, Inc. (NASDAQ:SGP) Price Target at $45.00

Shares of Spyglass Pharma, Inc. (NASDAQ:SGP) have been given a consensus rating of “Moderate Buy” by the six analysts that are presently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $45.00.

A number of equities analysts have recently issued reports on the company. Leerink Partners downgraded Spyglass Pharma to a “market perform” rating in a research report on Tuesday, March 3rd. Jefferies Financial Group assumed coverage on Spyglass Pharma in a research report on Tuesday, March 3rd. They set a “buy” rating and a $62.00 price target on the stock. Wall Street Zen downgraded Spyglass Pharma from a “hold” rating to a “sell” rating in a research report on Saturday, March 28th. Zacks Research raised Spyglass Pharma to a “hold” rating in a research report on Wednesday, March 4th. Finally, Citigroup assumed coverage on Spyglass Pharma in a research report on Tuesday, March 3rd. They set a “buy” rating and a $42.00 price target on the stock.

Spyglass Pharma Stock Up 0.6%

Shares of NASDAQ:SGP opened at $23.65 on Friday. Spyglass Pharma has a 52 week low of $20.15 and a 52 week high of $32.44. The business has a 50 day simple moving average of $25.53.

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

Insider Activity

In other Spyglass Pharma news, Director Ra Capital Management, L.P. purchased 3,690,000 shares of Spyglass Pharma stock in a transaction dated Monday, February 9th. The shares were acquired at an average cost of $16.00 per share, with a total value of $59,040,000.00. Following the completion of the transaction, the director owned 5,966,439 shares in the company, valued at approximately $95,463,024. This trade represents a 162.10% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Spyglass Pharma Company Profile

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).