Spyglass Pharma (NASDAQ:SGP) Earns Buy Rating from Analysts at Stifel Nicolaus

Equities research analysts at Stifel Nicolaus initiated coverage on shares of Spyglass Pharma (NASDAQ:SGP) in a report released on Tuesday,Benzinga reports. The brokerage 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 company’s current price.

A number of other research analysts have also weighed in on the stock. Jefferies Financial Group assumed coverage on shares of Spyglass Pharma in a research note on Tuesday. They issued a “buy” rating and a $62.00 price objective on the stock. Wall Street Zen upgraded Spyglass Pharma to a “hold” rating in a research note on Tuesday, February 17th. Finally, Leerink Partners lowered Spyglass Pharma to a “market perform” rating in a report on Tuesday. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $52.00.

Spyglass Pharma Price Performance

Shares of SGP opened at $26.73 on Tuesday. Spyglass Pharma has a 12-month low of $20.16 and a 12-month high of $32.44.

Insiders Place Their Bets

In other news, Director Ra Capital Management, L.P. bought 3,690,000 shares of the firm’s stock in a transaction on Monday, February 9th. The stock was acquired at an average cost of $16.00 per share, with a total value of $59,040,000.00. Following the completion of the transaction, the director directly owned 5,966,439 shares of the company’s stock, valued at $95,463,024. This represents a 162.10% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

About Spyglass Pharma

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).