Spyglass Pharma (NASDAQ:SGP) Stock Keeps “Buy” Rating at HC Wainwright

Spyglass Pharma (NASDAQ:SGP)‘s stock had its “buy” rating reaffirmed by research analysts at HC Wainwright in a report released on Wednesday, Benzinga reports. They currently have a $37.00 price target on the stock. HC Wainwright‘s price objective suggests a potential upside of 40.66% from the stock’s previous close.

Other equities research analysts have also recently issued research reports about the company. Weiss Ratings cut Spyglass Pharma from a “sell (e+)” rating to a “sell (e)” rating in a report on Friday, September 25th. UBS Group reiterated a “buy” rating on shares of Spyglass Pharma in a research note on Monday, October 5th. Wall Street Zen cut Spyglass Pharma from a “hold” rating to a “sell” rating in a report on Saturday, October 3rd. 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 price target for the company. 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. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $44.00.

Spyglass Pharma Stock Up 0.6%

Shares of NASDAQ SGP traded up $0.15 during mid-day trading on Wednesday, reaching $26.31. 6,277 shares of the company were exchanged, compared to its average volume of 107,040. The stock has a market capitalization of $879.38 million and a P/E ratio of -3.76. The company’s 50-day simple moving average is $26.58 and its 200-day simple moving average is $23.28. Spyglass Pharma has a twelve month low of $17.06 and a twelve month high of $32.44.

Spyglass Pharma (NASDAQ:SGP) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.59) earnings per share for the quarter, missing the consensus estimate of ($0.48) by ($0.11). As a group, equities research analysts expect that Spyglass Pharma will post -2.55 EPS for the current year.

Hedge Funds Weigh In On Spyglass Pharma

A number of hedge funds have recently bought and sold shares of the business. First Light Asset Management LLC bought a new stake in Spyglass Pharma in the 1st quarter valued at about $9,716,000. Affinity Asset Advisors LLC acquired a new position in shares of Spyglass Pharma during the 1st quarter worth approximately $6,478,000. Monashee Investment Management LLC acquired 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 position in shares of Spyglass Pharma during the first quarter worth approximately $726,000. Finally, Bank of New York Mellon Corp bought a new position in shares of Spyglass Pharma during the second quarter worth approximately $533,000.

Spyglass Pharma Company Profile

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.