Spyglass Pharma (NASDAQ:SGP) Announces Quarterly Earnings Results, Misses Expectations By $0.07 EPS

Spyglass Pharma (NASDAQ:SGP) announced its earnings results on Wednesday. The company reported ($0.73) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.07), Zacks reports.

Spyglass Pharma Stock Up 2.3%

Shares of Spyglass Pharma stock opened at $34.97 on Thursday. The business has a fifty day simple moving average of $28.60 and a 200-day simple moving average of $24.74. Spyglass Pharma has a fifty-two week low of $17.06 and a fifty-two week high of $39.92. The firm has a market cap of $1.17 billion and a price-to-earnings ratio of -5.00.

Wall Street Analyst Weigh In

A number of analysts have commented on SGP shares. UBS Group restated a “buy” rating on shares of Spyglass Pharma in a research report on Monday, October 5th. HC Wainwright reiterated a “buy” rating and issued a $37.00 price objective on shares of Spyglass Pharma in a report on Wednesday, October 21st. Wall Street Zen upgraded shares of Spyglass Pharma from a “sell” rating to a “hold” rating in a report on Saturday, October 31st. Raymond James Financial initiated coverage on shares of Spyglass Pharma in a research note on Friday, August 14th. They set an “outperform” rating and a $39.00 price objective on the stock. Finally, Weiss Ratings cut Spyglass Pharma from a “sell (e+)” rating to a “sell (e)” rating in a report on Friday, September 25th. Seven equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $44.00.

Spyglass Pharma Company Profile

SpyGlass Pharma is a clinical-stage ophthalmology company developing sustained-release drug delivery systems for chronic eye diseases. Its research is focused on reducing reliance on patients’ regular use of eye drops. The company’s lead program is a bimatoprost drug delivery system being developed to treat glaucoma and ocular hypertension. Bimatoprost is a medication used to lower eye pressure, and SpyGlass is studying a delivery approach intended to provide treatment over an extended period. SpyGlass Pharma’s work centers on advancing this ophthalmic delivery platform and its lead program through clinical development.