Sight Sciences (NASDAQ:SGHT) Given New $4.00 Price Target at Stifel Nicolaus

Sight Sciences (NASDAQ:SGHT) had its price target dropped by equities researchers at Stifel Nicolaus from $5.00 to $4.00 in a research note issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. Stifel Nicolaus’ target price would suggest a potential upside of 75.82% from the company’s previous close.

A number of other equities research analysts also recently issued reports on the company. Needham & Company LLC restated a “hold” rating on shares of Sight Sciences in a research report on Thursday. Morgan Stanley decreased their price target on Sight Sciences from $7.00 to $5.00 and set an “equal weight” rating on the stock in a report on Monday, November 11th. Citigroup dropped their price objective on shares of Sight Sciences from $4.60 to $3.00 and set a “neutral” rating for the company in a research note on Tuesday. Lake Street Capital lowered their target price on shares of Sight Sciences from $5.00 to $3.00 and set a “hold” rating for the company in a report on Wednesday, January 15th. Finally, UBS Group dropped their price target on shares of Sight Sciences from $5.50 to $5.00 and set a “buy” rating for the company in a research note on Monday, January 27th. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $3.92.

Sight Sciences Price Performance

NASDAQ SGHT traded down $0.15 during trading on Thursday, hitting $2.28. 265,514 shares of the stock traded hands, compared to its average volume of 250,051. 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 has a 12-month low of $2.17 and a 12-month high of $8.45. The firm has a 50-day simple moving average of $2.95 and a 200-day simple moving average of $4.45. The company has a market capitalization of $115.47 million, a P/E ratio of -2.23 and a beta of 2.52.

Sight Sciences (NASDAQ:SGHT) last posted its earnings results on Wednesday, March 5th. The company reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) 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 $19.07 million during the quarter, compared to analysts’ expectations of $18.98 million. During the same period last year, the business posted ($0.22) earnings per share. As a group, analysts predict that Sight Sciences will post -0.99 EPS for the current year.

Insider Buying and Selling

In other Sight Sciences news, CEO Paul Badawi sold 24,819 shares of the company’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $2.92, for a total value of $72,471.48. Following the transaction, the chief executive officer now directly owns 5,676,331 shares in the company, valued at $16,574,886.52. This represents a 0.44 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 63,014 shares of company stock valued at $197,295 in the last 90 days. Company insiders own 28.90% of the company’s stock.

Institutional Trading of Sight Sciences

A number of large investors have recently modified their holdings of the company. B. Riley Wealth Advisors Inc. raised its position in Sight Sciences by 24.6% during the 4th quarter. B. Riley Wealth Advisors Inc. now owns 243,082 shares of the company’s stock valued at $885,000 after purchasing an additional 48,000 shares in the last quarter. Squarepoint Ops LLC raised its holdings in shares of Sight Sciences by 314.2% in the fourth quarter. Squarepoint Ops LLC now owns 169,211 shares of the company’s stock valued at $616,000 after acquiring an additional 128,355 shares in the last quarter. ProShare Advisors LLC purchased a new stake in Sight Sciences in the fourth quarter worth about $36,000. Prosight Management LP grew its holdings in Sight Sciences by 71.1% during the 4th quarter. Prosight Management LP now owns 908,847 shares of the company’s stock worth $3,308,000 after acquiring an additional 377,625 shares in the last quarter. Finally, Millennium Management LLC bought a new position in Sight Sciences during the 4th quarter worth about $464,000. Hedge funds and other institutional investors own 55.51% of the company’s stock.

Sight Sciences Company Profile

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.