Spyglass Pharma (NASDAQ:SGP) Upgraded by Jefferies Financial Group to Strong-Buy Rating

Spyglass Pharma (NASDAQ:SGP) was upgraded by stock analysts at Jefferies Financial Group to a “strong-buy” rating in a research report issued to clients and investors on Tuesday, Marketbeat reports.

Several other research analysts have also recently commented on the stock. Stifel Nicolaus initiated 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. Citigroup assumed coverage on shares of Spyglass Pharma in a research note on Tuesday. They issued a “buy” rating and a $42.00 price objective for the company. Leerink Partners downgraded shares of Spyglass Pharma to a “market perform” rating in a research note on Tuesday. Finally, Wall Street Zen raised Spyglass Pharma to a “hold” rating in a research report on Tuesday, February 17th. One research analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $47.00.

Spyglass Pharma Stock Up 0.1%

NASDAQ:SGP opened at $26.75 on Tuesday. Spyglass Pharma has a 1-year low of $20.16 and a 1-year high of $32.44.

Insider Activity at Spyglass Pharma

In related news, Director Ra Capital Management, L.P. purchased 3,690,000 shares of the company’s stock in a transaction dated Monday, February 9th. The shares were acquired 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 owned 5,966,439 shares of the company’s stock, valued at $95,463,024. The trade was a 162.10% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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).