Analysts Set Sight Sciences, Inc. (NASDAQ:SGHT) Target Price at $3.83

by · The Cerbat Gem

Shares of Sight Sciences, Inc. (NASDAQ:SGHT – Get Free Report) have been given a consensus rating of “Hold” by the seven analysts that are currently covering the firm, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $3.83.

Several equities analysts recently weighed in on the company. UBS Group dropped their price objective 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. Lake Street Capital dropped their price target on Sight Sciences from $3.00 to $2.50 and set a “hold” rating for the company in a research report on Thursday, March 6th. Stifel Nicolaus decreased their price objective on shares of Sight Sciences from $5.00 to $4.00 and set a “buy” rating on the stock in a research report on Thursday, March 6th. Citigroup lowered their price objective on shares of Sight Sciences from $4.60 to $3.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 4th. Finally, Piper Sandler cut their target price on shares of Sight Sciences from $5.50 to $3.50 and set a “neutral” rating for the company in a research report on Thursday, March 6th.

Read Our Latest Research Report on Sight Sciences

Insider Activity at Sight Sciences

In other Sight Sciences news, CEO Paul Badawi sold 24,174 shares of Sight Sciences stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $2.30, for a total value of $55,600.20. Following the completion of the sale, the chief executive officer now directly owns 6,010,580 shares of the company’s stock, valued at approximately $13,824,334. The trade was a 0.40 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Manohar K. Raheja purchased 10,000 shares of Sight Sciences stock in a transaction on Wednesday, March 12th. The shares were acquired at an average cost of $2.73 per share, for a total transaction of $27,300.00. Following the purchase, the executive vice president now owns 145,000 shares in the company, valued at approximately $395,850. This trade represents a 7.41 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders sold 72,360 shares of company stock valued at $187,792. 28.90% of the stock is owned by insiders.

Institutional Trading of Sight Sciences

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. KCK LTD. purchased a new position in shares of Sight Sciences during the 4th quarter worth about $15,925,000. Long Focus Capital Management LLC increased its position in Sight Sciences by 158.8% during the fourth quarter. Long Focus Capital Management LLC now owns 2,238,632 shares of the company’s stock worth $8,149,000 after purchasing an additional 1,373,535 shares during the last quarter. Prosight Management LP increased its position in Sight Sciences by 71.1% during the fourth quarter. Prosight Management LP now owns 908,847 shares of the company’s stock worth $3,308,000 after purchasing an additional 377,625 shares during the last quarter. Geode Capital Management LLC raised its stake in Sight Sciences by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 792,860 shares of the company’s stock worth $2,887,000 after purchasing an additional 8,731 shares during the period. Finally, State Street Corp boosted its holdings in shares of Sight Sciences by 17.4% in the 3rd quarter. State Street Corp now owns 646,776 shares of the company’s stock valued at $4,075,000 after purchasing an additional 95,843 shares during the last quarter. Hedge funds and other institutional investors own 55.51% of the company’s stock.

Sight Sciences Price Performance

Sight Sciences stock opened at $2.41 on Thursday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 9.74 and a current ratio of 10.18. Sight Sciences has a one year low of $2.03 and a one year high of $8.45. The company has a market cap of $123.71 million, a P/E ratio of -2.36 and a beta of 2.46. The business has a fifty day moving average of $2.57 and a two-hundred day moving average of $3.59.

Sight Sciences (NASDAQ:SGHT – Get Free Report) last released its quarterly earnings data on Wednesday, March 5th. The company reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.01). Sight Sciences had a negative return on equity of 47.28% and a negative net margin of 63.30%. The company had revenue of $19.07 million for the quarter, compared to analysts’ expectations of $18.98 million. During the same period in the prior year, the firm posted ($0.22) EPS. As a group, analysts predict that Sight Sciences will post -0.99 earnings per share for the current fiscal year.

Sight Sciences Company Profile

(Get Free Report

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.

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