Spyglass Pharma (NASDAQ:SGP) Raised to Hold at Zacks Research

Spyglass Pharma (NASDAQ:SGP) was upgraded by analysts at Zacks Research to a “hold” rating in a research note issued on Wednesday,Zacks.com reports.

Several other brokerages have also recently weighed in on SGP. Stifel Nicolaus began coverage on Spyglass Pharma in a research note on Tuesday. They set a “buy” rating and a $42.00 price objective on the stock. Citigroup began coverage on shares of Spyglass Pharma in a report on Tuesday. They issued a “buy” rating and a $42.00 target price for the company. Jefferies Financial Group started coverage on shares of Spyglass Pharma in a report on Tuesday. They set a “buy” rating and a $62.00 price target on the stock. Leerink Partners downgraded shares of Spyglass Pharma to a “market perform” rating in a research report on Tuesday. Finally, Wall Street Zen raised shares of Spyglass Pharma to a “hold” rating in a research report on Tuesday, February 17th. Four equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $47.00.

Spyglass Pharma Stock Up 1.2%

Shares of NASDAQ:SGP traded up $0.32 during mid-day trading on Wednesday, hitting $26.74. 28,053 shares of the company traded hands, compared to its average volume of 91,043. Spyglass Pharma has a 12-month low of $20.16 and a 12-month high of $32.44.

Insider Transactions at Spyglass Pharma

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