Analysts Set Sight Sciences, Inc. (NASDAQ:SGHT) Price Target at $8.30

Sight Sciences, Inc. (NASDAQ:SGHT) has earned an average rating of “Moderate Buy” from the nine research firms that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation, four have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $8.30.

SGHT has been the topic of several research reports. Raymond James Financial set a $9.00 price objective on shares of Sight Sciences in a research report on Monday, January 5th. Morgan Stanley raised their price target on Sight Sciences from $6.00 to $8.00 and gave the stock an “equal weight” rating in a report on Tuesday, December 2nd. Piper Sandler set a $9.00 price objective on Sight Sciences in a research report on Monday, January 5th. Lake Street Capital lifted their target price on Sight Sciences from $5.00 to $7.00 and gave the company a “buy” rating in a research note on Tuesday, October 21st. Finally, William Blair upgraded shares of Sight Sciences to a “strong-buy” rating in a research report on Friday, January 30th.

Insider Buying and Selling

In related news, EVP Brenton Taylor sold 14,418 shares of the firm’s stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $7.06, for a total value of $101,791.08. Following the completion of the sale, the executive vice president owned 170,831 shares in the company, valued at $1,206,066.86. This trade represents a 7.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO James Rodberg sold 4,405 shares of the business’s stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $7.82, for a total value of $34,447.10. Following the transaction, the chief financial officer owned 154,440 shares in the company, valued at $1,207,720.80. The trade was a 2.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 162,214 shares of company stock worth $1,209,132. 30.90% of the stock is currently owned by insiders.

Institutional Trading of Sight Sciences

Institutional investors have recently modified their holdings of the business. Americana Partners LLC raised its position in Sight Sciences by 12.1% in the fourth quarter. Americana Partners LLC now owns 1,378,980 shares of the company’s stock worth $10,935,000 after acquiring an additional 149,161 shares in the last quarter. Palumbo Wealth Management LLC acquired a new position in shares of Sight Sciences during the 4th quarter worth $294,000. Long Focus Capital Management LLC increased its holdings in shares of Sight Sciences by 1.3% in the 3rd quarter. Long Focus Capital Management LLC now owns 3,193,305 shares of the company’s stock valued at $10,985,000 after purchasing an additional 41,797 shares in the last quarter. Millennium Management LLC lifted its stake in shares of Sight Sciences by 145.2% in the third quarter. Millennium Management LLC now owns 133,846 shares of the company’s stock valued at $460,000 after purchasing an additional 79,265 shares during the period. Finally, Alliancebernstein L.P. boosted its holdings in Sight Sciences by 5.5% during the third quarter. Alliancebernstein L.P. now owns 34,380 shares of the company’s stock worth $118,000 after buying an additional 1,800 shares in the last quarter. 55.51% of the stock is currently owned by hedge funds and other institutional investors.

Sight Sciences Trading Up 3.2%

NASDAQ:SGHT opened at $5.87 on Wednesday. The company has a market capitalization of $310.35 million, a PE ratio of -6.52 and a beta of 2.41. Sight Sciences has a 52-week low of $2.03 and a 52-week high of $9.24. The stock’s 50 day moving average price is $7.45 and its 200 day moving average price is $5.54. The company has a quick ratio of 8.93, a current ratio of 9.60 and a debt-to-equity ratio of 0.62.

Sight Sciences (NASDAQ:SGHT) last posted its quarterly earnings data on Thursday, November 6th. The company reported ($0.16) earnings per share for the quarter, beating the consensus estimate of ($0.26) by $0.10. The business had revenue of $19.91 million during the quarter, compared to the consensus estimate of $17.74 million. Sight Sciences had a negative return on equity of 61.59% and a negative net margin of 60.63%. On average, research analysts anticipate that Sight Sciences will post -0.99 EPS for the current year.

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.