Spyglass Pharma (NASDAQ:SGP) Coverage Initiated by Analysts at Citigroup

Citigroup started coverage on shares of Spyglass Pharma (NASDAQ:SGP) in a research note issued to investors on Tuesday, MarketBeat.com reports. The brokerage issued a buy rating and a $42.00 price objective on the stock.

Several other brokerages have also recently commented on SGP. Leerink Partners downgraded Spyglass Pharma to a “market perform” rating in a research note on Tuesday. Jefferies Financial Group began coverage on Spyglass Pharma in a report on Tuesday. They issued a “buy” rating and a $62.00 price objective for the company. Stifel Nicolaus initiated coverage on shares of Spyglass Pharma in a research note on Tuesday. They issued a “buy” rating and a $42.00 target price for the company. Finally, Wall Street Zen raised shares of Spyglass Pharma to a “hold” rating in a research report on Tuesday, February 17th. Four analysts have rated the stock with a Buy rating, According to MarketBeat.com, Spyglass Pharma presently has an average rating of “Buy” and a consensus target price of $47.00.

Spyglass Pharma Stock Performance

Shares of NASDAQ:SGP opened at $26.75 on Tuesday. Spyglass Pharma has a one year low of $20.16 and a one year high of $32.44.

Insiders Place Their Bets

In other Spyglass Pharma news, Director Ra Capital Management, L.P. purchased 3,690,000 shares of the business’s stock in a transaction on Monday, February 9th. The stock was acquired at an average price of $16.00 per share, with a total value of $59,040,000.00. Following the acquisition, the director directly owned 5,966,439 shares of the company’s stock, valued at $95,463,024. This trade represents a 162.10% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

About Spyglass Pharma

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).