Sight Sciences, Inc. (NASDAQ:SGHT) Stock Has Consensus Price Target of $9.62 According to Brokerages

Shares of Sight Sciences, Inc. (NASDAQ:SGHT) have been assigned an average recommendation of “Moderate Buy” from the eight research firms that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $10.31.

Several analysts recently commented on the company. Piper Sandler reiterated an “overweight” rating and issued a $12.00 target price (up from $9.00) on shares of Sight Sciences in a report on Thursday, November 5th. Weiss Ratings restated a “sell (e+)” rating on shares of Sight Sciences in a report on Wednesday, November 4th. HC Wainwright began coverage on shares of Sight Sciences in a report on Thursday, October 15th. They issued a “buy” rating and a $14.00 target price on the stock. UBS Group upped their price target on shares of Sight Sciences from $8.00 to $13.50 and gave the company a “buy” rating in a research report on Thursday. Finally, Citigroup increased their price target on Sight Sciences from $8.00 to $10.00 and gave the stock a “neutral” rating in a report on Monday, October 5th.

Sight Sciences Stock Performance

SGHT opened at $10.99 on Friday. 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 has a 52-week low of $3.38 and a 52-week high of $11.60. The firm has a market cap of $610.82 million, a P/E ratio of -21.13 and a beta of 2.44. The business’s fifty day moving average is $8.92 and its 200-day moving average is $6.18.

Sight Sciences (NASDAQ:SGHT) last issued its quarterly earnings data on Wednesday, November 4th. The company reported ($0.12) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.12). Sight Sciences had a negative return on equity of 43.91% and a negative net margin of 32.13%. The business had revenue of $24.92 million for the quarter, compared to analyst estimates of $23.55 million. Sell-side analysts expect that Sight Sciences will post -0.48 EPS for the current fiscal year.

Insiders Place Their Bets

In other Sight Sciences news, CFO James Rodberg sold 7,208 shares of Sight Sciences 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 completion of the sale, the chief financial officer directly owned 216,829 shares in the company, valued at approximately $1,918,936.65. The trade was a 3.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CTO David Badawi sold 7,797 shares of the 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 transaction, the chief technology officer directly owned 1,975,075 shares in the company, valued at approximately $17,874,428.75. This represents a 0.39% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 47,646 shares of company stock worth $429,157 in the last quarter. 30.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Sight Sciences

Institutional investors have recently made changes to their positions in the stock. BlackRock Inc. acquired a new stake in shares of Sight Sciences in the 2nd quarter valued at about $16,710,000. GSA Capital Partners LLP bought a new stake in Sight Sciences in the 2nd quarter valued at about $908,000. Bank of New York Mellon Corp bought a new stake in Sight Sciences in the 2nd quarter valued at about $495,000. Bank of America Corp DE acquired a new position in Sight Sciences during the 2nd quarter worth approximately $520,000. Finally, SCS Capital Management LLC acquired a new position in Sight Sciences during the 2nd quarter worth approximately $488,000. Institutional investors and hedge funds 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.