Spyglass Pharma (NASDAQ:SGP) Stock Price Target Raised at Citigroup

Spyglass Pharma (NASDAQ:SGP) had its target price lifted by Citigroup from $42.00 to $45.00 in a research note released on Friday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other research analysts also recently commented on SGP. Raymond James Financial began coverage on Spyglass Pharma in a research note on Friday, August 14th. They set an “outperform” rating and a $39.00 target price for the company. UBS Group restated a “buy” rating on shares of Spyglass Pharma in a research report on Monday, October 5th. HC Wainwright raised their price target on shares of Spyglass Pharma from $37.00 to $43.00 and gave the company a “buy” rating in a research note on Thursday. Stifel Nicolaus lifted their price target on shares of Spyglass Pharma from $42.00 to $44.00 and gave the stock a “buy” rating in a report on Friday. Finally, Wall Street Zen raised Spyglass Pharma from a “sell” rating to a “hold” rating in a research report on Saturday, October 31st. Seven research analysts have rated the stock with a Buy rating, one has issued 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 target price of $45.83.

Spyglass Pharma Stock Down 1.3%

SGP opened at $32.88 on Friday. Spyglass Pharma has a 12-month low of $17.06 and a 12-month high of $39.92. The business has a 50 day moving average of $28.78 and a 200-day moving average of $24.83.

Spyglass Pharma (NASDAQ:SGP) last posted its earnings results on Thursday, November 12th. The company reported ($0.73) EPS for the quarter, missing the consensus estimate of ($0.66) by ($0.07). Analysts forecast that Spyglass Pharma will post -2.55 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. The Manufacturers Life Insurance Company purchased a new stake in shares of Spyglass Pharma during the 1st quarter valued at approximately $308,000. Bank of New York Mellon Corp purchased a new position in Spyglass Pharma in the 2nd quarter valued at approximately $533,000. Bank of America Corp DE bought a new stake in Spyglass Pharma during the 1st quarter valued at $726,000. Monashee Investment Management LLC bought a new stake in Spyglass Pharma during the 1st quarter valued at $2,461,000. Finally, Affinity Asset Advisors LLC purchased a new stake in shares of Spyglass Pharma during the first quarter worth $6,478,000.

About Spyglass Pharma

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.