Spyglass Pharma (NASDAQ:SGP) Coverage Initiated by Analysts at Leerink Partners

Leerink Partners assumed coverage on shares of Spyglass Pharma (NASDAQ:SGP) in a note issued to investors on Tuesday,Benzinga reports. The firm set an “outperform” rating and a $42.00 price target on the stock. Leerink Partners’ price target suggests a potential upside of 57.13% from the stock’s current price.

SGP has been the subject of a number of other reports. Stifel Nicolaus assumed coverage on Spyglass Pharma in a research report on Tuesday. They issued a “buy” rating and a $42.00 price target for the company. Wall Street Zen raised Spyglass Pharma to a “hold” rating in a research note on Tuesday, February 17th. Finally, Jefferies Financial Group started coverage on Spyglass Pharma in a research note on Tuesday. They issued a “buy” rating and a $62.00 target price for the company. Three research analysts have rated the stock with a Buy rating, According to data from MarketBeat, Spyglass Pharma has an average rating of “Buy” and an average price target of $48.67.

Spyglass Pharma Price Performance

SGP opened at $26.73 on Tuesday. Spyglass Pharma has a twelve month low of $20.16 and a twelve month high of $32.44.

Insiders Place Their Bets

In other Spyglass Pharma news, Director Ra Capital Management, L.P. acquired 3,690,000 shares of the stock in a transaction that occurred on Monday, February 9th. The stock was bought at an average cost of $16.00 per share, for a total transaction of $59,040,000.00. Following the completion of the transaction, the director owned 5,966,439 shares of the company’s stock, valued at approximately $95,463,024. The trade was a 162.10% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, 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).