Analysts Issue Forecasts for Sight Sciences FY2024 Earnings

Sight Sciences, Inc. (NASDAQ:SGHT) – Analysts at William Blair upped their FY2024 earnings per share (EPS) estimates for Sight Sciences in a research note issued to investors on Monday, November 11th. William Blair analyst M. Andrew now expects that the company will post earnings of ($1.10) per share for the year, up from their previous forecast of ($1.19). The consensus estimate for Sight Sciences’ current full-year earnings is ($1.01) per share. William Blair also issued estimates for Sight Sciences’ Q4 2024 earnings at ($0.31) EPS, Q1 2025 earnings at ($0.29) EPS, Q2 2025 earnings at ($0.24) EPS, Q3 2025 earnings at ($0.29) EPS and FY2025 earnings at ($1.08) EPS.

SGHT has been the subject of a number of other research reports. Lake Street Capital downgraded Sight Sciences from a “buy” rating to a “hold” rating and cut their price target for the company from $10.00 to $5.00 in a research note on Monday, November 4th. Needham & Company LLC reaffirmed a “hold” rating on shares of Sight Sciences in a research report on Friday, November 8th. Piper Sandler reissued a “neutral” rating and issued a $5.50 price target (down from $6.00) on shares of Sight Sciences in a research report on Friday, November 8th. Finally, Morgan Stanley cut their price objective on shares of Sight Sciences from $7.00 to $5.00 and set an “equal weight” rating on the stock in a report on Monday. Five analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $5.50.

Sight Sciences Trading Down 3.0 %

NASDAQ:SGHT opened at $3.86 on Wednesday. The company has a debt-to-equity ratio of 0.36, a current ratio of 10.18 and a quick ratio of 10.50. Sight Sciences has a one year low of $2.00 and a one year high of $8.45. The company has a market cap of $195.93 million, a PE ratio of -3.78 and a beta of 2.74. The firm has a 50-day moving average of $5.75 and a 200-day moving average of $6.21.

Sight Sciences (NASDAQ:SGHT) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($0.22) 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 business had revenue of $20.16 million during the quarter, compared to analyst estimates of $20.41 million.

Insiders Place Their Bets

In other news, insider Jeremy B. Hayden sold 4,878 shares of the stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $6.08, for a total transaction of $29,658.24. Following the completion of the transaction, the insider now directly owns 158,687 shares of the company’s stock, valued at $964,816.96. This represents a 2.98 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Paul Badawi sold 12,727 shares of Sight Sciences stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $5.99, for a total transaction of $76,234.73. Following the completion of the sale, the chief executive officer now directly owns 5,725,433 shares in the company, valued at $34,295,343.67. This trade represents a 0.22 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 97,357 shares of company stock valued at $574,666. Insiders own 28.90% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Millrace Asset Group Inc. purchased a new stake in Sight Sciences during the third quarter valued at about $874,000. GSA Capital Partners LLP purchased a new stake in shares of Sight Sciences during the 3rd quarter valued at approximately $136,000. SG Americas Securities LLC bought a new position in Sight Sciences in the 3rd quarter worth approximately $75,000. B. Riley Wealth Advisors Inc. purchased a new position in Sight Sciences in the 2nd quarter valued at approximately $1,234,000. Finally, Long Focus Capital Management LLC raised its holdings in Sight Sciences by 86.9% during the 2nd quarter. Long Focus Capital Management LLC now owns 560,594 shares of the company’s stock valued at $3,739,000 after acquiring an additional 260,594 shares during the period. 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.