Brokerages Set Sight Sciences, Inc. (NASDAQ:SGHT) Target Price at $4.72

Shares of Sight Sciences, Inc. (NASDAQ:SGHT) have been assigned an average recommendation of “Hold” from the six analysts that are currently covering the firm, Marketbeat.com reports. Five analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $4.62.

A number of analysts recently commented on SGHT shares. Needham & Company LLC reiterated a “hold” rating on shares of Sight Sciences in a research report on Tuesday, January 14th. UBS Group cut their price objective on shares of Sight Sciences from $5.50 to $5.00 and set a “buy” rating for the company in a research report on Monday, January 27th. Piper Sandler restated a “neutral” rating and set a $5.50 target price (down previously from $6.00) on shares of Sight Sciences in a research report on Friday, November 8th. Morgan Stanley cut their price target on Sight Sciences from $7.00 to $5.00 and set an “equal weight” rating for the company in a report on Monday, November 11th. Finally, Citigroup decreased their price objective on Sight Sciences from $5.80 to $4.60 and set a “neutral” rating on the stock in a report on Wednesday, December 11th.

Sight Sciences Stock Performance

Shares of SGHT opened at $2.80 on Friday. The company has a 50-day moving average of $3.45 and a two-hundred day moving average of $5.15. The stock has a market cap of $142.11 million, a P/E ratio of -2.75 and a beta of 2.57. Sight Sciences has a 12-month low of $2.67 and a 12-month high of $8.45. The company has a current ratio of 10.18, a quick ratio of 9.74 and a debt-to-equity ratio of 0.36.

Sight Sciences (NASDAQ:SGHT) last posted its earnings results 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. The firm had revenue of $20.16 million for the quarter, compared to analyst estimates of $20.41 million. Sight Sciences had a negative return on equity of 47.28% and a negative net margin of 63.30%. As a group, research analysts predict that Sight Sciences will post -1 EPS for the current fiscal year.

Insider Buying and Selling at Sight Sciences

In related news, CEO Paul Badawi sold 12,236 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were 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 approximately $20,567,509.20. This represents a 0.21 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last quarter, insiders have purchased 15,000 shares of company stock worth $58,232 and have sold 63,014 shares worth $197,295. 28.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Sight Sciences

Several institutional investors have recently bought and sold shares of the business. KCK LTD. acquired a new position in shares of Sight Sciences during the 4th quarter valued at $15,925,000. Barclays PLC raised its position in Sight Sciences by 317.4% in the third quarter. Barclays PLC now owns 50,300 shares of the company’s stock valued at $317,000 after purchasing an additional 38,248 shares during the period. Millrace Asset Group Inc. acquired a new position in shares of Sight Sciences during the third quarter worth about $874,000. Geode Capital Management LLC boosted its position in shares of Sight Sciences by 1.6% in the third quarter. Geode Capital Management LLC now owns 784,129 shares of the company’s stock worth $4,941,000 after buying an additional 12,709 shares during the period. Finally, State Street Corp grew its stake in shares of Sight Sciences by 17.4% in the third quarter. State Street Corp now owns 646,776 shares of the company’s stock valued at $4,075,000 after buying an additional 95,843 shares in the last quarter. 55.51% of the stock is currently owned by hedge funds and other institutional investors.

About Sight Sciences

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.