Sight Sciences, Inc. (NASDAQ:SGHT) Receives $7.88 Consensus Target Price from Brokerages

Shares of Sight Sciences, Inc. (NASDAQ:SGHT) have been given a consensus recommendation of “Hold” by the nine brokerages that are covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $7.8750.

SGHT has been the topic of several research reports. Citigroup reiterated a “neutral” rating on shares of Sight Sciences in a report on Thursday, August 13th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Sight Sciences in a report on Friday, August 7th. Wall Street Zen upgraded shares of Sight Sciences from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Finally, UBS Group increased their price target on shares of Sight Sciences from $7.00 to $8.00 and gave the company a “buy” rating in a report on Thursday, August 6th.

Sight Sciences Stock Performance

Shares of NASDAQ:SGHT opened at $8.32 on Friday. The company has a market capitalization of $458.35 million, a price-to-earnings ratio of -14.86 and a beta of 2.38. The firm’s 50 day simple moving average is $6.07 and its 200 day simple moving average is $5.08. The company has a debt-to-equity ratio of 0.58, a current ratio of 4.95 and a quick ratio of 4.67. Sight Sciences has a fifty-two week low of $3.19 and a fifty-two week high of $9.24.

Sight Sciences (NASDAQ:SGHT) last announced its quarterly earnings results on Wednesday, August 5th. The company reported ($0.08) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.18) by $0.10. The company had revenue of $23.39 million during the quarter, compared to the consensus estimate of $21.72 million. Sight Sciences had a negative return on equity of 43.39% and a negative net margin of 35.69%. As a group, sell-side analysts forecast that Sight Sciences will post -0.52 earnings per share for the current year.

Insider Transactions at Sight Sciences

In related news, CTO David Badawi sold 7,418 shares of the business’s stock in a transaction on Monday, July 6th. The stock was sold at an average price of $5.51, for a total value of $40,873.18. Following the completion of the sale, the chief technology officer directly owned 1,982,872 shares in the company, valued at $10,925,624.72. The trade was a 0.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Paul Badawi sold 28,684 shares of the business’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $5.42, for a total value of $155,467.28. Following the completion of the sale, the chief executive officer owned 6,122,472 shares of the company’s stock, valued at $33,183,798.24. This trade represents a 0.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 58,566 shares of company stock worth $318,827 over the last three months. Company insiders own 30.40% of the company’s stock.

Institutional Investors Weigh In On Sight Sciences

Institutional investors have recently modified their holdings of the business. AQR Capital Management LLC bought a new stake in Sight Sciences in the 1st quarter worth about $128,000. Strs Ohio purchased a new position in Sight Sciences in the first quarter valued at about $158,000. Rhumbline Advisers grew its position in shares of Sight Sciences by 9.5% during the 1st quarter. Rhumbline Advisers now owns 49,797 shares of the company’s stock valued at $120,000 after acquiring an additional 4,319 shares during the period. Geode Capital Management LLC increased its stake in shares of Sight Sciences by 5.5% during the 2nd quarter. Geode Capital Management LLC now owns 845,776 shares of the company’s stock worth $3,494,000 after purchasing an additional 43,791 shares during the last quarter. Finally, XTX Topco Ltd purchased a new stake in shares of Sight Sciences during the 2nd quarter worth approximately $67,000. Institutional investors own 55.51% of the company’s stock.

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.