Spyglass Pharma, Inc. (NASDAQ:SGP) Receives $45.00 Average PT from Brokerages

Shares of Spyglass Pharma, Inc. (NASDAQ:SGP) have been given a consensus rating of “Moderate Buy” by the six research firms that are covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $45.00.

A number of research firms have recently commented on SGP. Wall Street Zen downgraded Spyglass Pharma from a “hold” rating to a “sell” rating in a report on Saturday, March 28th. Zacks Research upgraded Spyglass Pharma to a “hold” rating in a report on Wednesday, March 4th. Citigroup started coverage on Spyglass Pharma in a research report on Tuesday, March 3rd. They set a “buy” rating and a $42.00 price target for the company. Leerink Partners lowered Spyglass Pharma to a “market perform” rating in a research note on Tuesday, March 3rd. Finally, HC Wainwright assumed coverage on Spyglass Pharma in a report on Tuesday, March 10th. They issued a “buy” rating and a $37.00 price objective on the stock.

Insider Transactions at Spyglass Pharma

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

Spyglass Pharma Price Performance

Spyglass Pharma stock opened at $22.46 on Tuesday. Spyglass Pharma has a 1 year low of $20.16 and a 1 year high of $32.44.

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

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).