Spyglass Pharma (NASDAQ:SGP) Upgraded to Moderate Buy at Raymond James Financial

Raymond James Financial upgraded shares of Spyglass Pharma (NASDAQ:SGP) to a moderate buy rating in a research note issued to investors on Friday morning,Zacks.com reports.

Separately, Weiss Ratings began coverage on shares of Spyglass Pharma in a report on Thursday, August 6th. They set a “sell (e)” rating for the company. Six analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Spyglass Pharma presently has a consensus rating of “Moderate Buy” and a consensus price target of $44.00.

Spyglass Pharma Trading Up 4.1%

Shares of SGP stock opened at $26.20 on Friday. The firm has a market capitalization of $875.87 million and a PE ratio of -3.74. The company has a 50-day moving average of $20.91. Spyglass Pharma has a 1-year low of $17.06 and a 1-year high of $32.44.

Spyglass Pharma (NASDAQ:SGP) last issued 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, equities analysts forecast that Spyglass Pharma will post -2.51 earnings per share for the current year.

Institutional Investors Weigh In On Spyglass Pharma

Hedge funds have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company acquired a new position in Spyglass Pharma in the first quarter valued at approximately $308,000. Bank of New York Mellon Corp acquired a new stake in shares of Spyglass Pharma during the 2nd quarter worth approximately $533,000. Bank of America Corp DE acquired a new stake in shares of Spyglass Pharma during the 1st quarter worth approximately $726,000. Monashee Investment Management LLC bought a new stake in shares of Spyglass Pharma in the 1st quarter valued at $2,461,000. Finally, Affinity Asset Advisors LLC acquired a new position in shares of Spyglass Pharma during the 1st quarter valued at $6,478,000.

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).