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

Shares of Sight Sciences, Inc. (NASDAQ:SGHT) have been assigned an average rating of “Hold” from the six brokerages that are presently covering the company, Marketbeat.com reports. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $5.12.

SGHT has been the topic of a number of recent analyst reports. UBS Group began coverage on Sight Sciences in a report on Friday, December 6th. They set a “buy” rating and a $5.50 price target on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of Sight Sciences in a research report on Friday, November 8th. Morgan Stanley decreased their price target on shares of 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. Piper Sandler reissued a “neutral” rating and issued a $5.50 target price (down from $6.00) on shares of Sight Sciences in a research report on Friday, November 8th. Finally, Lake Street Capital cut Sight Sciences from a “buy” rating to a “hold” rating and dropped their price target for the company from $10.00 to $5.00 in a research report on Monday, November 4th.

Insider Buying and Selling

In related news, insider Matthew Link sold 20,487 shares of the firm’s stock in a transaction on Friday, October 18th. The stock was sold at an average price of $5.98, for a total value of $122,512.26. Following the completion of the sale, the insider now owns 685,381 shares of the company’s stock, valued at $4,098,578.38. This trade represents a 2.90 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In the last quarter, insiders have purchased 15,000 shares of company stock valued at $58,232 and have sold 63,052 shares valued at $367,522. 28.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Sight Sciences

A number of institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC bought a new position in shares of Sight Sciences during the third quarter valued at approximately $75,000. The Manufacturers Life Insurance Company purchased a new position in Sight Sciences during the second quarter valued at $95,000. GSA Capital Partners LLP bought a new stake in Sight Sciences in the third quarter worth $136,000. American Century Companies Inc. grew its stake in shares of Sight Sciences by 31.1% in the second quarter. American Century Companies Inc. now owns 35,948 shares of the company’s stock worth $240,000 after acquiring an additional 8,527 shares during the last quarter. Finally, Rhumbline Advisers grew its stake in shares of Sight Sciences by 40.1% in the second quarter. Rhumbline Advisers now owns 40,811 shares of the company’s stock worth $272,000 after acquiring an additional 11,671 shares during the last quarter. Institutional investors own 55.51% of the company’s stock.

Sight Sciences Stock Down 1.6 %

Shares of NASDAQ:SGHT opened at $3.58 on Tuesday. The stock has a market cap of $181.70 million, a price-to-earnings ratio of -3.51 and a beta of 2.58. The business’s 50 day moving average is $4.07 and its 200 day moving average is $5.66. Sight Sciences has a 12-month low of $3.30 and a 12-month high of $8.45. 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 (NASDAQ:SGHT) last released its quarterly earnings results on Thursday, November 7th. The company reported ($0.22) earnings per share for the quarter, topping the consensus estimate of ($0.23) by $0.01. The business had revenue of $20.16 million for the quarter, compared to analysts’ expectations 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, sell-side analysts forecast that Sight Sciences will post -1.01 earnings per share for the current fiscal year.

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.