Spyglass Pharma (NASDAQ:SGP) Stock Rating Lowered by Wall Street Zen

Spyglass Pharma (NASDAQ:SGP) was downgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued on Saturday.

Several other analysts have also recently weighed in on SGP. HC Wainwright assumed coverage on shares of Spyglass Pharma in a research report on Tuesday, March 10th. They set a “buy” rating and a $37.00 price objective on the stock. Jefferies Financial Group initiated coverage on Spyglass Pharma in a research note on Tuesday, March 3rd. They issued a “buy” rating and a $62.00 target price on the stock. Citigroup assumed coverage on Spyglass Pharma in a research report on Tuesday, March 3rd. They set a “buy” rating and a $42.00 price target on the stock. Stifel Nicolaus assumed coverage on Spyglass Pharma in a research note on Tuesday, March 3rd. They set a “buy” rating and a $42.00 price target for the company. Finally, Zacks Research upgraded Spyglass Pharma to a “hold” rating in a report on Wednesday, March 4th. Five analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $45.00.

Spyglass Pharma Price Performance

Shares of SGP opened at $22.61 on Friday. Spyglass Pharma has a 1-year low of $20.16 and a 1-year high of $32.44.

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

Insider Buying and Selling at Spyglass Pharma

In other Spyglass Pharma news, Director Ra Capital Management, L.P. acquired 3,690,000 shares of the stock in a transaction dated Monday, February 9th. The stock was purchased at an average cost of $16.00 per share, for a total transaction of $59,040,000.00. Following the acquisition, the director owned 5,966,439 shares in the company, valued at $95,463,024. The trade was a 162.10% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link.

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).