Analysts Set Spyglass Pharma, Inc. (NASDAQ:SGP) PT at $45.00

Spyglass Pharma, Inc. (NASDAQ:SGP) has been assigned an average recommendation of “Moderate Buy” from the six brokerages that are presently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $45.00.

Several equities analysts recently commented on SGP shares. 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 price objective for the company. Jefferies Financial Group started coverage on shares of Spyglass Pharma in a research note on Tuesday, March 3rd. They issued a “buy” rating and a $62.00 price objective for the company. Leerink Partners downgraded shares of Spyglass Pharma to a “market perform” rating in a research note on Tuesday, March 3rd. Wall Street Zen downgraded shares of Spyglass Pharma from a “hold” rating to a “sell” rating in a research note on Saturday, March 28th. Finally, Zacks Research raised shares of Spyglass Pharma to a “hold” rating in a research note on Wednesday, March 4th.

Spyglass Pharma Stock Up 0.8%

Shares of Spyglass Pharma stock opened at $22.65 on Tuesday. Spyglass Pharma has a 1-year low of $20.16 and a 1-year high of $32.44.

Spyglass Pharma (NASDAQ:SGP) last issued its quarterly earnings data on Thursday, March 26th. The company reported ($5.72) EPS for the quarter, beating the consensus estimate of ($6.61) by $0.89.

Insider Buying and Selling

In related news, Director Ra Capital Management, L.P. acquired 3,690,000 shares of the company’s 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 purchase, the director directly owned 5,966,439 shares in the company, valued at approximately $95,463,024. This trade represents a 162.10% increase in their ownership of the stock. The purchase was disclosed in a legal 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).