Brokerages Set Sight Sciences, Inc. (NASDAQ:SGHT) Price Target at $8.30

Sight Sciences, Inc. (NASDAQ:SGHT) has been assigned a consensus rating of “Hold” from the eight ratings firms that are currently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $8.30.

Several research firms have recently commented on SGHT. Raymond James Financial set a $9.00 target price on Sight Sciences in a research note on Monday, January 5th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Sight Sciences in a research report on Monday, December 29th. Morgan Stanley boosted their price objective on Sight Sciences from $6.00 to $8.00 and gave the stock an “equal weight” rating in a report on Tuesday, December 2nd. UBS Group upped their target price on shares of Sight Sciences from $7.00 to $12.00 and gave the company a “buy” rating in a research report on Tuesday, December 23rd. Finally, Piper Sandler set a $9.00 target price on shares of Sight Sciences in a research note on Monday, January 5th.

Sight Sciences Trading Up 3.2%

Shares of NASDAQ SGHT opened at $7.41 on Friday. Sight Sciences has a 1-year low of $2.03 and a 1-year high of $9.24. The company has a 50-day moving average of $7.71 and a two-hundred day moving average of $5.22. The company has a market cap of $391.77 million, a PE ratio of -8.23 and a beta of 2.42. The company has a current ratio of 9.60, a quick ratio of 8.93 and a debt-to-equity ratio of 0.62.

Sight Sciences (NASDAQ:SGHT) last issued its quarterly earnings results on Thursday, November 6th. The company reported ($0.16) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.10. Sight Sciences had a negative net margin of 60.63% and a negative return on equity of 61.59%. The business had revenue of $19.91 million during the quarter, compared to analyst estimates of $17.74 million. As a group, equities analysts expect that Sight Sciences will post -0.99 earnings per share for the current fiscal year.

Insider Transactions at Sight Sciences

In other news, insider Jeremy B. Hayden sold 44,850 shares of the firm’s stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $8.08, for a total value of $362,388.00. Following the transaction, the insider directly owned 256,590 shares in the company, valued at $2,073,247.20. This trade represents a 14.88% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO James Rodberg sold 4,405 shares of the firm’s stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $7.82, for a total value of $34,447.10. Following the transaction, the chief financial officer owned 154,440 shares in the company, valued at approximately $1,207,720.80. This trade represents a 2.77% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 126,092 shares of company stock valued at $970,005. 28.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Sight Sciences

Several hedge funds have recently made changes to their positions in SGHT. Alliancebernstein L.P. lifted its position in shares of Sight Sciences by 5.5% in the third quarter. Alliancebernstein L.P. now owns 34,380 shares of the company’s stock worth $118,000 after purchasing an additional 1,800 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in Sight Sciences by 32.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 11,665 shares of the company’s stock valued at $48,000 after buying an additional 2,875 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Sight Sciences by 1.0% during the 3rd quarter. Dimensional Fund Advisors LP now owns 303,634 shares of the company’s stock worth $1,045,000 after buying an additional 3,051 shares in the last quarter. CWM LLC boosted its stake in shares of Sight Sciences by 70.2% during the 2nd quarter. CWM LLC now owns 7,607 shares of the company’s stock worth $31,000 after buying an additional 3,137 shares during the last quarter. Finally, BNP Paribas Financial Markets grew its holdings in shares of Sight Sciences by 99.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 7,579 shares of the company’s stock valued at $26,000 after acquiring an additional 3,785 shares in the last quarter. 55.51% of the stock is owned by institutional investors.

About Sight Sciences

Sight Sciences, Inc is a medical device company focused on developing and commercializing minimally invasive treatments for chronic eye diseases. The company’s flagship products include the OMNI® Surgical System, designed to address multiple points of resistance in the eye’s natural drainage pathways to lower intraocular pressure in glaucoma patients, and the TearCare® System, a wearable device for treating meibomian gland dysfunction and dry eye disease through targeted thermal pulsation therapy.

Since its founding in 2012 and subsequent listing on the NASDAQ under the ticker SGHT, Sight Sciences has pursued a strategy of combining research-driven product development with a direct sales force model.