Spyglass Pharma (NASDAQ:SGP) Stock Price Up 5.3% – Should You Buy?

Spyglass Pharma, Inc. (NASDAQ:SGP) shares shot up 5.3% on Friday . The stock traded as high as $27.97 and last traded at $27.82. 39,616 shares traded hands during trading, a decline of 57% from the average session volume of 91,525 shares. The stock had previously closed at $26.42.

Wall Street Analyst Weigh In

SGP has been the subject of a number of research analyst reports. Jefferies Financial Group initiated coverage on Spyglass Pharma in a research note on Tuesday. They issued a “buy” rating and a $62.00 price target for the company. Stifel Nicolaus initiated coverage on Spyglass Pharma in a research report on Tuesday. They issued a “buy” rating and a $42.00 price target on the stock. Wall Street Zen raised shares of Spyglass Pharma to a “hold” rating in a research report on Tuesday, February 17th. Citigroup initiated coverage on Spyglass Pharma in a report on Tuesday. They issued a “buy” rating and a $42.00 target price for the company. Finally, Leerink Partners cut shares of Spyglass Pharma to a “market perform” rating in a report on Tuesday. Four research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $47.00.

Spyglass Pharma Trading Up 5.6%

Insider Buying and Selling at Spyglass Pharma

In other Spyglass Pharma news, Director Ra Capital Management, L.P. bought 3,690,000 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the director owned 5,966,439 shares of the company’s stock, valued at $95,463,024. This trade represents a 162.10% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available 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).