Spyglass Pharma (NASDAQ:SGP) Upgraded to “Strong-Buy” at Jefferies Financial Group

Jefferies Financial Group upgraded shares of Spyglass Pharma (NASDAQ:SGP) to a strong-buy rating in a research note published on Tuesday morning, Marketbeat.com reports.

A number of other equities research analysts have also weighed in on SGP. Wall Street Zen upgraded shares of Spyglass Pharma to a “hold” rating in a report on Tuesday, February 17th. Stifel Nicolaus initiated coverage on shares of Spyglass Pharma in a research note on Tuesday. They set a “buy” rating and a $42.00 target price for the company. Citigroup began coverage on Spyglass Pharma in a research note on Tuesday. They issued a “buy” rating and a $42.00 price target on the stock. Finally, Leerink Partners downgraded Spyglass Pharma to a “market perform” rating in a report on Tuesday. One research analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $47.00.

Spyglass Pharma Stock Up 0.1%

SGP stock opened at $26.75 on Tuesday. Spyglass Pharma has a fifty-two week low of $20.16 and a fifty-two week high of $32.44.

Insider Buying and Selling

In related news, Director Ra Capital Management, L.P. purchased 3,690,000 shares of Spyglass Pharma stock in a transaction that occurred on Monday, February 9th. The stock was purchased at an average cost of $16.00 per share, with a total value of $59,040,000.00. Following the completion of the transaction, the director directly 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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).