Spyglass Pharma, Inc. (NASDAQ:SGP) Receives $47.00 Average Target Price from Analysts

Shares of Spyglass Pharma, Inc. (NASDAQ:SGP) have been assigned an average recommendation of “Moderate Buy” from the five brokerages that are currently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $47.00.

A number of research firms have recently weighed in on SGP. Stifel Nicolaus started coverage on shares of Spyglass Pharma in a report on Tuesday, March 3rd. They issued a “buy” rating and a $42.00 price target on the stock. Citigroup started coverage on shares of Spyglass Pharma in a research note on Tuesday, March 3rd. They issued a “buy” rating and a $42.00 target price for the company. Wall Street Zen upgraded Spyglass Pharma to a “hold” rating in a report on Tuesday, February 17th. Leerink Partners lowered Spyglass Pharma to a “market perform” rating in a research report on Tuesday, March 3rd. Finally, Jefferies Financial Group assumed coverage on Spyglass Pharma in a report on Tuesday, March 3rd. They issued a “buy” rating and a $62.00 price target for the company.

Spyglass Pharma Price Performance

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

Insiders Place Their Bets

In related 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 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 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 Securities & Exchange Commission, which is accessible 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).