Sight Sciences (NASDAQ:SGHT) Stock Price Expected to Rise, UBS Group Analyst Says

Sight Sciences (NASDAQ:SGHT) had its price target hoisted by equities researchers at UBS Group from $8.00 to $13.50 in a research note issued to investors on Thursday, Benzinga reports. The firm presently has a “buy” rating on the stock. UBS Group‘s price objective points to a potential upside of 19.95% from the stock’s current price.

Other analysts have also recently issued research reports about the company. Wall Street Zen raised Sight Sciences from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. HC Wainwright began coverage on Sight Sciences in a research note on Thursday, October 15th. They issued a “buy” rating and a $14.00 price target for the company. Piper Sandler reiterated an “overweight” rating and issued a $12.00 price target (up from $9.00) on shares of Sight Sciences in a research note on Thursday, November 5th. Weiss Ratings restated a “sell (e+)” rating on shares of Sight Sciences in a research note on Wednesday, November 4th. Finally, Citigroup boosted their price target on Sight Sciences from $8.00 to $10.00 and gave the stock a “neutral” rating in a research note on Monday, October 5th. Five analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Sight Sciences currently has a consensus rating of “Moderate Buy” and an average target price of $10.31.

Sight Sciences Stock Up 3.1%

SGHT stock traded up $0.34 during trading on Thursday, reaching $11.26. 102,315 shares of the company traded hands, compared to its average volume of 283,846. Sight Sciences has a 12 month low of $3.38 and a 12 month high of $11.32. The business has a 50 day simple moving average of $8.87 and a 200 day simple moving average of $6.16. The company has a market capitalization of $625.54 million, a price-to-earnings ratio of -21.68 and a beta of 2.44. The company has a debt-to-equity ratio of 0.71, a quick ratio of 4.72 and a current ratio of 5.04.

Sight Sciences (NASDAQ:SGHT) last announced its earnings results on Wednesday, November 4th. The company reported ($0.12) EPS for the quarter, hitting analysts’ consensus estimates of ($0.12). The business had revenue of $24.92 million during the quarter, compared to the consensus estimate of $23.55 million. Sight Sciences had a negative net margin of 32.13% and a negative return on equity of 43.91%. On average, equities research analysts anticipate that Sight Sciences will post -0.48 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Sight Sciences news, CFO James Rodberg sold 7,208 shares of the firm’s stock in a transaction that occurred on Friday, October 2nd. The stock was sold at an average price of $8.85, for a total value of $63,790.80. Following the sale, the chief financial officer directly owned 216,829 shares of the company’s stock, valued at approximately $1,918,936.65. This trade represents a 3.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO David Badawi sold 7,797 shares of the business’s stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $9.05, for a total transaction of $70,562.85. Following the completion of the sale, the chief technology officer directly owned 1,975,075 shares of the company’s stock, valued at approximately $17,874,428.75. The trade was a 0.39% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 47,646 shares of company stock valued at $429,157 in the last three months. 30.40% of the stock is currently owned by insiders.

Institutional Trading of Sight Sciences

Several large investors have recently bought and sold shares of SGHT. Ieq Capital LLC increased its stake in shares of Sight Sciences by 7.3% in the 3rd quarter. Ieq Capital LLC now owns 26,635 shares of the company’s stock worth $249,000 after acquiring an additional 1,803 shares during the last quarter. Royce & Associates LP acquired a new stake in shares of Sight Sciences during the 3rd quarter worth approximately $1,676,000. Diversified Trust Co increased its holdings in shares of Sight Sciences by 27.3% during the 3rd quarter. Diversified Trust Co now owns 18,989 shares of the company’s stock worth $178,000 after buying an additional 4,068 shares during the last quarter. R Squared Ltd increased its holdings in shares of Sight Sciences by 20.7% during the 3rd quarter. R Squared Ltd now owns 19,759 shares of the company’s stock worth $185,000 after buying an additional 3,388 shares during the last quarter. Finally, Hsbc Holdings PLC raised its position in shares of Sight Sciences by 21.6% during the 2nd quarter. Hsbc Holdings PLC now owns 46,707 shares of the company’s stock valued at $255,000 after buying an additional 8,297 shares during the period. Hedge funds and other institutional investors own 55.51% of the company’s stock.

About Sight Sciences

Sight Sciences is a medical technology company that develops and commercializes devices for ophthalmic care, with a focus on glaucoma and dry eye disease. Its products are designed to support minimally invasive procedures and address underlying causes of these conditions. The company’s portfolio includes the OMNI Surgical System, used in procedures to reduce eye pressure in patients with glaucoma, and TearCare, a device-based treatment for evaporative dry eye associated with meibomian gland dysfunction.