Spyglass Pharma (NASDAQ:SGP) Earns Buy Rating from Analysts at Citigroup

Citigroup initiated coverage on shares of Spyglass Pharma (NASDAQ:SGP) in a research note issued on Tuesday, Marketbeat reports. The firm set a “buy” rating and a $42.00 price target on the stock. Citigroup’s price objective indicates a potential upside of 57.13% from the company’s current price.

A number of other analysts have also recently issued reports on the company. Jefferies Financial Group initiated coverage on Spyglass Pharma in a report on Tuesday. They set a “buy” rating and a $62.00 price objective on the stock. Stifel Nicolaus assumed coverage on Spyglass Pharma in a research report on Tuesday. They set a “buy” rating and a $42.00 price target on the stock. Leerink Partners downgraded shares of Spyglass Pharma to a “market perform” rating in a report on Tuesday. Finally, Wall Street Zen raised shares of Spyglass Pharma to a “hold” rating in a research note on Tuesday, February 17th. Four research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Spyglass Pharma has an average rating of “Buy” and a consensus target price of $47.00.

Spyglass Pharma Stock Performance

NASDAQ:SGP opened at $26.73 on Tuesday. Spyglass Pharma has a 1 year low of $20.16 and a 1 year high of $32.44.

Insider Buying and Selling at Spyglass Pharma

In other Spyglass Pharma 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 stock was purchased at an average price of $16.00 per share, for a total transaction of $59,040,000.00. Following the transaction, the director owned 5,966,439 shares in the company, valued at $95,463,024. The trade was a 162.10% increase in their position. The transaction was disclosed in a document filed with the SEC, 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).