Brokerages Set Sight Sciences, Inc. (NASDAQ:SGHT) Price Target at $8.31

Sight Sciences, Inc. (NASDAQ:SGHT) has earned a consensus rating of “Hold” from the nine analysts that are covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, three have given a hold recommendation and five have issued a buy recommendation on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $8.3125.

SGHT has been the subject of a number of recent analyst reports. Stifel Nicolaus boosted their target price on shares of Sight Sciences from $6.00 to $8.00 and gave the company a “buy” rating in a report on Monday, March 2nd. Piper Sandler set a $9.00 price target on shares of Sight Sciences in a research note on Monday, January 5th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Sight Sciences in a report on Monday, December 29th. Raymond James Financial set a $9.00 price objective on shares of Sight Sciences in a research note on Monday, January 5th. Finally, Citigroup dropped their price objective on Sight Sciences from $9.10 to $6.50 and set a “neutral” rating for the company in a report on Friday, March 6th.

Sight Sciences Price Performance

Shares of NASDAQ:SGHT opened at $3.88 on Thursday. The firm has a market capitalization of $209.56 million, a P/E ratio of -5.17 and a beta of 2.43. The company’s fifty day moving average price is $5.09 and its 200 day moving average price is $5.74. Sight Sciences has a 12 month low of $2.03 and a 12 month high of $9.24. The company has a debt-to-equity ratio of 0.63, a current ratio of 10.22 and a quick ratio of 9.52.

Sight Sciences (NASDAQ:SGHT) last issued its quarterly earnings results on Wednesday, March 4th. The company reported ($0.08) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.07. Sight Sciences had a negative return on equity of 55.72% and a negative net margin of 49.67%.The firm had revenue of $20.39 million for the quarter, compared to analyst estimates of $20.35 million. As a group, sell-side analysts predict that Sight Sciences will post -0.99 earnings per share for the current fiscal year.

Insider Transactions at Sight Sciences

In other news, CTO David Badawi sold 4,836 shares of Sight Sciences stock in a transaction dated Friday, January 16th. The stock was sold at an average price of $6.62, for a total value of $32,014.32. Following the transaction, the chief technology officer directly owned 1,912,273 shares of the company’s stock, valued at $12,659,247.26. The trade was a 0.25% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Paul Badawi sold 22,362 shares of the business’s stock in a transaction dated Friday, January 16th. The stock was sold at an average price of $6.62, for a total value of $148,036.44. Following the sale, the chief executive officer owned 6,025,840 shares of the company’s stock, valued at $39,891,060.80. The trade was a 0.37% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 99,796 shares of company stock valued at $719,722. Insiders own 30.90% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of SGHT. Americana Partners LLC raised its stake in shares of Sight Sciences by 42.4% in the 3rd quarter. Americana Partners LLC now owns 1,229,819 shares of the company’s stock valued at $4,231,000 after acquiring an additional 365,901 shares during the period. B Group Inc. boosted its position in Sight Sciences by 11.6% during the 2nd quarter. B Group Inc. now owns 930,000 shares of the company’s stock worth $3,841,000 after purchasing an additional 96,400 shares during the period. Panagora Asset Management Inc. purchased a new stake in Sight Sciences during the 2nd quarter worth $132,000. Intech Investment Management LLC increased its holdings in Sight Sciences by 26.2% in the 2nd quarter. Intech Investment Management LLC now owns 25,366 shares of the company’s stock valued at $105,000 after purchasing an additional 5,261 shares in the last quarter. Finally, XTX Topco Ltd acquired a new stake in Sight Sciences in the 2nd quarter valued at $67,000. 55.51% of the stock is owned by institutional investors and hedge funds.

Sight Sciences Company Profile

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.