Jefferies Financial Group Begins Coverage on Spyglass Pharma (NASDAQ:SGP)

Research analysts at Jefferies Financial Group initiated coverage on shares of Spyglass Pharma (NASDAQ:SGP) in a report issued on Tuesday, MarketBeat Ratings reports. The firm set a “buy” rating and a $62.00 price target on the stock. Jefferies Financial Group’s price target indicates a potential upside of 132.38% from the company’s current price.

Other equities research analysts have also issued reports about the company. Wall Street Zen upgraded Spyglass Pharma to a “hold” rating in a report on Tuesday, February 17th. Citigroup began coverage on shares of Spyglass Pharma in a research report on Tuesday. They set a “buy” rating and a $42.00 price objective on the stock. Leerink Partners downgraded shares of Spyglass Pharma to a “market perform” rating in a research report on Tuesday. Finally, Stifel Nicolaus initiated coverage on shares of Spyglass Pharma in a research note on Tuesday. They set a “buy” rating and a $42.00 price target on the stock. Four investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Spyglass Pharma has an average rating of “Buy” and an average price target of $47.00.

Spyglass Pharma Stock Down 0.3%

NASDAQ:SGP opened at $26.68 on Tuesday. Spyglass Pharma has a 1-year low of $20.16 and a 1-year high of $32.44.

Insider Buying and Selling

In related news, Director Ra Capital Management, L.P. bought 3,690,000 shares of Spyglass Pharma stock in a transaction that occurred on Monday, February 9th. The stock was purchased at an average cost of $16.00 per share, with a total value of $59,040,000.00. Following the purchase, the director owned 5,966,439 shares in the company, valued at approximately $95,463,024. This trade represents a 162.10% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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).