Spyglass Pharma (NASDAQ:SGP) Stock Rating Raised to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Spyglass Pharma (NASDAQ:SGP) from a sell rating to a hold rating in a research note issued to investors on Saturday morning,Wall Street Zen reports.

A number of other analysts have also issued reports on the stock. Weiss Ratings lowered shares of Spyglass Pharma from a “sell (e+)” rating to a “sell (e)” rating in a research note on Friday, September 25th. UBS Group reaffirmed a “buy” rating on shares of Spyglass Pharma in a research note on Monday, October 5th. Raymond James Financial started coverage on shares of Spyglass Pharma in a report on Friday, August 14th. They set an “outperform” rating and a $39.00 price objective for the company. Finally, HC Wainwright reissued a “buy” rating and issued a $37.00 price objective on shares of Spyglass Pharma in a research report on Wednesday, October 21st. Seven analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $44.00.

Spyglass Pharma Stock Performance

SGP opened at $32.24 on Friday. The stock’s 50 day moving average price is $27.23 and its 200-day moving average price is $24.27. Spyglass Pharma has a one year low of $17.06 and a one year high of $33.84. The stock has a market cap of $1.08 billion and a price-to-earnings ratio of -4.61.

Spyglass Pharma (NASDAQ:SGP) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.59) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.11). As a group, analysts predict that Spyglass Pharma will post -2.55 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Spyglass Pharma

Institutional investors have recently bought and sold shares of the business. The Manufacturers Life Insurance Company purchased a new stake in shares of Spyglass Pharma during the 1st quarter worth $308,000. Bank of New York Mellon Corp acquired a new stake in shares of Spyglass Pharma during the second quarter worth $533,000. Bank of America Corp DE acquired a new stake in Spyglass Pharma during the 1st quarter worth about $726,000. Monashee Investment Management LLC purchased a new stake in Spyglass Pharma in the first quarter valued at approximately $2,461,000. Finally, Affinity Asset Advisors LLC acquired a new stake in shares of Spyglass Pharma in the first quarter worth $6,478,000.

About Spyglass Pharma

SpyGlass Pharma, Inc is an ophthalmic pharmaceutical company developing sustained drug-delivery technologies for the treatment of eye diseases. The company’s platform is designed to provide continuous delivery of medication within the eye, with the goal of reducing reliance on daily topical eye drops and improving treatment adherence.

SpyGlass Pharma’s lead product candidate is an investigational drug-delivery system intended to treat glaucoma and ocular hypertension. The implant is designed to be placed in the eye during cataract surgery and release a therapeutic agent over an extended period, potentially providing longer-term control of elevated intraocular pressure.

The company is advancing its technology through clinical development and regulatory processes in the United States.