Spyglass Pharma (NASDAQ:SGP) Upgraded at Zacks Research

Zacks Research upgraded shares of Spyglass Pharma (NASDAQ:SGP) to a hold rating in a report issued on Wednesday morning,Zacks.com reports.

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

Spyglass Pharma Price Performance

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

Insider Buying and Selling at Spyglass Pharma

In other news, Director Ra Capital Management, L.P. acquired 3,690,000 shares of Spyglass Pharma stock in a transaction that occurred on Monday, February 9th. The shares were acquired at an average price of $16.00 per share, with a total value of $59,040,000.00. Following the completion of the purchase, the director owned 5,966,439 shares of the company’s stock, valued at approximately $95,463,024. This represents a 162.10% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

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).