Spyglass Pharma (NASDAQ:SGP) Coverage Initiated by Analysts at HC Wainwright

Investment analysts at HC Wainwright began coverage on shares of Spyglass Pharma (NASDAQ:SGP) in a research note issued to investors on Tuesday,Benzinga reports. The firm set a “buy” rating and a $37.00 price target on the stock. HC Wainwright’s target price suggests a potential upside of 36.43% from the stock’s previous close.

Several other brokerages have also commented on SGP. Stifel Nicolaus started coverage on Spyglass Pharma in a research note on Tuesday, March 3rd. They set a “buy” rating and a $42.00 price target on the stock. Wall Street Zen raised Spyglass Pharma to a “hold” rating in a research report on Tuesday, February 17th. Zacks Research raised shares of Spyglass Pharma to a “hold” rating in a research report on Wednesday, March 4th. Jefferies Financial Group started coverage on Spyglass Pharma in a research note on Tuesday, March 3rd. They issued a “buy” rating and a $62.00 price objective for the company. Finally, Leerink Partners downgraded Spyglass Pharma to a “market perform” rating in a research report on Tuesday, March 3rd. Five research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $45.00.

Spyglass Pharma Stock Up 1.6%

Spyglass Pharma stock opened at $27.12 on Tuesday. Spyglass Pharma has a 52-week low of $20.16 and a 52-week 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 company’s stock in a transaction that occurred on Monday, February 9th. The stock was bought at an average price of $16.00 per share, with a total value of $59,040,000.00. Following the purchase, the director owned 5,966,439 shares in the company, valued at approximately $95,463,024. The trade was a 162.10% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

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).