Spyglass Pharma (NASDAQ:SGP) Upgraded by Zacks Research to “Hold” Rating

Zacks Research upgraded shares of Spyglass Pharma (NASDAQ:SGP) to a hold rating in a research report released on Wednesday morning,Zacks.com reports.

A number of other analysts have also recently commented on SGP. Leerink Partners cut shares of Spyglass Pharma to a “market perform” rating in a research note on Tuesday. Jefferies Financial Group started coverage on shares of Spyglass Pharma in a research note on Tuesday. They issued a “buy” rating and a $62.00 target price for the company. Wall Street Zen upgraded Spyglass Pharma to a “hold” rating in a report on Tuesday, February 17th. Citigroup initiated coverage on Spyglass Pharma in a research note on Tuesday. They issued a “buy” rating and a $42.00 price objective on the stock. Finally, Stifel Nicolaus assumed coverage on Spyglass Pharma in a research note on Tuesday. They set a “buy” rating and a $42.00 target price for the company. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, Spyglass Pharma currently has an average rating of “Moderate Buy” and a consensus target price of $47.00.

Spyglass Pharma Price Performance

Shares of NASDAQ:SGP traded down $0.13 during midday trading on Wednesday, hitting $26.29. The stock had a trading volume of 27,716 shares, compared to its average volume of 91,015. Spyglass Pharma has a 12 month low of $20.16 and a 12 month 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 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 purchase, the director directly owned 5,966,439 shares of the company’s stock, valued at $95,463,024. This trade represents a 162.10% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

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).