Spyglass Pharma (NASDAQ:SGP) Research Coverage Started at Leerink Partners

Leerink Partners began coverage on shares of Spyglass Pharma (NASDAQ:SGP) in a research note released on Tuesday morning, MarketBeat.com reports. The firm issued an outperform rating and a $42.00 price target on the stock.

A number of other research firms have also recently weighed in on SGP. Wall Street Zen raised shares of Spyglass Pharma to a “hold” rating in a research note on Tuesday, February 17th. Stifel Nicolaus assumed coverage on Spyglass Pharma in a research note on Tuesday. They issued a “buy” rating and a $42.00 price objective for the company. Finally, Jefferies Financial Group started coverage on shares of Spyglass Pharma in a report on Tuesday. They issued a “buy” rating and a $62.00 price objective for the company. Four analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Spyglass Pharma has a consensus rating of “Buy” and a consensus target price of $47.00.

Spyglass Pharma Price Performance

SGP stock opened at $26.42 on Tuesday. Spyglass Pharma has a 12 month low of $20.16 and a 12 month high of $32.44.

Insider Activity

In related news, Director Ra Capital Management, L.P. acquired 3,690,000 shares of the business’s stock in a transaction that occurred on Monday, February 9th. The shares were bought at an average cost 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 in the company, valued at $95,463,024. The trade was a 162.10% increase in their ownership of the stock. The purchase 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).