Analysts Set Sight Sciences, Inc. (NASDAQ:SGHT) Target Price at $5.12

Sight Sciences, Inc. (NASDAQ:SGHT) has been assigned a consensus rating of “Hold” from the six brokerages that are presently covering the company, MarketBeat.com reports. Five research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $5.12.

Several brokerages have recently weighed in on SGHT. Lake Street Capital cut Sight Sciences from a “buy” rating to a “hold” rating and decreased their price objective for the company from $10.00 to $5.00 in a report on Monday, November 4th. Morgan Stanley decreased their price target on Sight Sciences from $7.00 to $5.00 and set an “equal weight” rating for the company in a research note on Monday, November 11th. UBS Group initiated coverage on Sight Sciences in a research report on Friday, December 6th. They set a “buy” rating and a $5.50 price target on the stock. Piper Sandler reissued a “neutral” rating and issued a $5.50 price objective (down previously from $6.00) on shares of Sight Sciences in a report on Friday, November 8th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Sight Sciences in a research note on Friday, November 8th.

Insider Activity

In related news, insider Matthew Link sold 20,487 shares of the company’s stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $5.98, for a total value of $122,512.26. Following the transaction, the insider now directly owns 685,381 shares in the company, valued at approximately $4,098,578.38. This represents a 2.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Paul Badawi sold 12,236 shares of Sight Sciences stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $3.60, for a total transaction of $44,049.60. Following the completion of the sale, the chief executive officer now owns 5,713,197 shares of the company’s stock, valued at $20,567,509.20. This trade represents a 0.21 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have bought 15,000 shares of company stock valued at $58,232 and have sold 83,263 shares valued at $439,644. 28.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Sight Sciences

A number of large investors have recently added to or reduced their stakes in SGHT. Millrace Asset Group Inc. acquired a new position in Sight Sciences in the 3rd quarter valued at $874,000. Barclays PLC increased its position in shares of Sight Sciences by 317.4% in the third quarter. Barclays PLC now owns 50,300 shares of the company’s stock worth $317,000 after purchasing an additional 38,248 shares during the period. Geode Capital Management LLC raised its stake in Sight Sciences by 1.6% in the third quarter. Geode Capital Management LLC now owns 784,129 shares of the company’s stock valued at $4,941,000 after purchasing an additional 12,709 shares in the last quarter. State Street Corp lifted its position in Sight Sciences by 17.4% during the third quarter. State Street Corp now owns 646,776 shares of the company’s stock worth $4,075,000 after purchasing an additional 95,843 shares during the period. Finally, Acadian Asset Management LLC grew its stake in Sight Sciences by 256.6% during the second quarter. Acadian Asset Management LLC now owns 83,693 shares of the company’s stock worth $556,000 after buying an additional 60,220 shares in the last quarter. Institutional investors and hedge funds own 55.51% of the company’s stock.

Sight Sciences Trading Down 2.6 %

NASDAQ SGHT opened at $3.40 on Tuesday. Sight Sciences has a 52 week low of $3.30 and a 52 week high of $8.45. The company has a debt-to-equity ratio of 0.36, a quick ratio of 9.74 and a current ratio of 10.18. The stock’s 50 day moving average price is $3.97 and its two-hundred day moving average price is $5.60. The stock has a market capitalization of $172.57 million, a price-to-earnings ratio of -3.33 and a beta of 2.57.

Sight Sciences (NASDAQ:SGHT) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($0.22) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.01. Sight Sciences had a negative net margin of 63.30% and a negative return on equity of 47.28%. The company had revenue of $20.16 million for the quarter, compared to the consensus estimate of $20.41 million. As a group, analysts anticipate that Sight Sciences will post -1.01 earnings per share for the current fiscal year.

Sight Sciences Company Profile

Sight Sciences, Inc, an ophthalmic medical device company, engages in the development and commercialization of surgical and nonsurgical technologies for the treatment of eye diseases. It operates through two segments, Surgical Glaucoma and Dry Eye. The company's products include OMNI Surgical System, an implant-free glaucoma surgery technology indicated to reduce intraocular pressure in adult patients with primary open-angle glaucoma; and SION Surgical Instrument, a manually operated device used in ophthalmic surgical procedures to excise trabecular meshwork.