Stifel Nicolaus Cuts Sight Sciences (NASDAQ:SGHT) Price Target to $5.00

Sight Sciences (NASDAQ:SGHT) had its price objective decreased by Stifel Nicolaus from $6.00 to $5.00 in a research note issued to investors on Thursday morning,Benzinga reports. Stifel Nicolaus currently has a buy rating on the stock.

SGHT has been the subject of several other reports. Lake Street Capital cut their price objective on shares of Sight Sciences from $5.00 to $3.00 and set a “hold” rating for the company in a report on Wednesday, January 15th. Piper Sandler reaffirmed a “neutral” rating and issued a $5.50 price target (down from $6.00) on shares of Sight Sciences in a report on Friday, November 8th. Needham & Company LLC reiterated a “hold” rating on shares of Sight Sciences in a research note on Tuesday, January 14th. UBS Group cut their target price on Sight Sciences from $5.50 to $5.00 and set a “buy” rating for the company in a research note on Monday, January 27th. Finally, Morgan Stanley reduced their target price 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. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $4.68.

Sight Sciences Stock Performance

Shares of NASDAQ SGHT opened at $2.71 on Thursday. The company has a quick ratio of 9.74, a current ratio of 10.18 and a debt-to-equity ratio of 0.36. Sight Sciences has a one year low of $2.67 and a one year high of $8.45. The business’s fifty day moving average price is $3.36 and its 200-day moving average price is $5.01.

Sight Sciences (NASDAQ:SGHT) last issued its earnings results on Thursday, November 7th. The company reported ($0.22) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.01. The firm had revenue of $20.16 million during the quarter, compared to analyst estimates of $20.41 million. Sight Sciences had a negative net margin of 63.30% and a negative return on equity of 47.28%. On average, research analysts anticipate that Sight Sciences will post -1 EPS for the current year.

Insider Activity

In other news, CEO Paul Badawi sold 24,819 shares of the firm’s stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $2.92, for a total transaction of $72,471.48. Following the sale, the chief executive officer now owns 5,676,331 shares in the company, valued at approximately $16,574,886.52. This trade represents a 0.44 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In the last 90 days, insiders acquired 15,000 shares of company stock worth $58,232 and sold 63,014 shares worth $197,295. Corporate insiders own 28.90% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in SGHT. KCK LTD. bought a new stake in Sight Sciences during the fourth quarter worth about $15,925,000. Geode Capital Management LLC raised its holdings in shares of Sight Sciences by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 784,129 shares of the company’s stock valued at $4,941,000 after buying an additional 12,709 shares in the last quarter. State Street Corp lifted its position in Sight Sciences by 17.4% in the 3rd quarter. State Street Corp now owns 646,776 shares of the company’s stock worth $4,075,000 after buying an additional 95,843 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Sight Sciences by 4.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 268,250 shares of the company’s stock worth $976,000 after buying an additional 11,259 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its position in Sight Sciences by 46.3% during the third quarter. Jacobs Levy Equity Management Inc. now owns 207,893 shares of the company’s stock valued at $1,310,000 after acquiring an additional 65,767 shares during the last quarter. Institutional investors own 55.51% of the company’s stock.

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.