SpyGlass Pharma initiated with a Buy at Stifel

Stifel initiated coverage of SpyGlass Pharma (SGP) with a Buy rating and $42 price target The firm says that by combining a known drug, a known procedure, and a known device, SpyGlass’ sustained-release drug-delivery BIM-IOL is “poised to capitalize on the ongoing interventional glaucoma secular shift.” The BIM-IOL U.S. total addressable market is large at $13B annually, the analyst tells investors in a research note.