Spyglass Pharma (NASDAQ:SGP) Now Covered by Stifel Nicolaus

Investment analysts at Stifel Nicolaus began coverage on shares of Spyglass Pharma (NASDAQ:SGP) in a note issued to investors on Tuesday,Benzinga reports. The firm set a “buy” rating and a $42.00 price target on the stock. Stifel Nicolaus’ price target would indicate a potential upside of 57.13% from the stock’s current price.

SGP has been the subject of several other research reports. Wall Street Zen upgraded shares of Spyglass Pharma to a “hold” rating in a research report on Tuesday, February 17th. Leerink Partners downgraded Spyglass Pharma to a “market perform” rating in a report on Tuesday. Finally, Jefferies Financial Group began coverage on Spyglass Pharma in a report on Tuesday. They set a “buy” rating and a $62.00 target price on the stock. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $52.00.

Spyglass Pharma Stock Performance

Shares of NASDAQ:SGP opened at $26.73 on Tuesday. Spyglass Pharma has a one year low of $20.16 and a one year high of $32.44.

Insider Buying and Selling at Spyglass Pharma

In other news, Director Ra Capital Management, L.P. bought 3,690,000 shares of the stock in a transaction that occurred 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 completion of the purchase, the director directly owned 5,966,439 shares of the company’s stock, valued at approximately $95,463,024. This represents a 162.10% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at 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).