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

HC Wainwright assumed coverage on shares of Spyglass Pharma (NASDAQ:SGP) in a research note released on Tuesday, MarketBeat.com reports. The firm issued a buy rating and a $37.00 price objective on the stock.

Other research analysts have also issued reports about the stock. Wall Street Zen upgraded shares of Spyglass Pharma to a “hold” rating in a report on Tuesday, February 17th. Jefferies Financial Group initiated coverage on shares of Spyglass Pharma in a research note on Tuesday, March 3rd. They issued a “buy” rating and a $62.00 price target for the company. Leerink Partners cut Spyglass Pharma to a “market perform” rating in a research report on Tuesday, March 3rd. Zacks Research raised Spyglass Pharma to a “hold” rating in a research report on Wednesday, March 4th. Finally, Stifel Nicolaus 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. Five analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, Spyglass Pharma currently has a consensus rating of “Moderate Buy” and a consensus price target of $45.00.

Spyglass Pharma Stock Down 1.1%

Shares of SGP stock opened at $26.82 on Tuesday. Spyglass Pharma has a fifty-two week low of $20.16 and a fifty-two week high of $32.44.

Insider Buying and Selling

In related news, Director Ra Capital Management, L.P. purchased 3,690,000 shares of the firm’s stock in a transaction on Monday, February 9th. The shares were acquired at an average price of $16.00 per share, for a total transaction of $59,040,000.00. Following the purchase, the director directly owned 5,966,439 shares in the company, valued at $95,463,024. This trade represents a 162.10% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through 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).