Sight Sciences (NASDAQ:SGHT) Price Target Cut to $11.00 by Analysts at UBS Group

Sight Sciences (NASDAQ:SGHT) had its price target reduced by research analysts at UBS Group from $12.00 to $11.00 in a report issued on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. UBS Group’s price target indicates a potential upside of 201.37% from the company’s current price.

SGHT has been the subject of several other reports. Citigroup decreased their price target on shares of Sight Sciences from $9.10 to $6.50 and set a “neutral” rating for the company in a research report on Friday. Weiss Ratings restated a “sell (e+)” rating on shares of Sight Sciences in a research note on Monday, December 29th. Stifel Nicolaus lifted their price target on shares of Sight Sciences from $6.00 to $8.00 and gave the stock a “buy” rating in a report on Monday. Cantor Fitzgerald set a $8.00 price objective on Sight Sciences in a report on Monday. Finally, Morgan Stanley boosted their target price on Sight Sciences from $6.00 to $8.00 and gave the stock an “equal weight” rating in a research note on Tuesday, December 2nd. Five analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $8.31.

Sight Sciences Stock Down 7.8%

NASDAQ SGHT traded down $0.31 during midday trading on Friday, hitting $3.65. 394,490 shares of the company traded hands, compared to its average volume of 300,104. The company has a debt-to-equity ratio of 0.62, a current ratio of 9.60 and a quick ratio of 8.93. The company has a market cap of $192.98 million, a PE ratio of -4.87 and a beta of 2.43. The company’s 50-day simple moving average is $6.29 and its 200-day simple moving average is $5.75. Sight Sciences has a 52 week low of $2.03 and a 52 week high of $9.24.

Sight Sciences (NASDAQ:SGHT) last released its quarterly earnings results on Wednesday, March 4th. The company reported ($0.08) EPS for the quarter, topping the consensus estimate of ($0.15) by $0.07. The firm had revenue of $20.39 million during the quarter, compared to analyst estimates of $20.35 million. Sight Sciences had a negative return on equity of 54.39% and a negative net margin of 49.67%. As a group, equities research analysts forecast that Sight Sciences will post -0.99 earnings per share for the current year.

Insider Activity at Sight Sciences

In other Sight Sciences news, insider Jeremy B. Hayden sold 6,308 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 transaction of $41,758.96. Following the sale, the insider owned 267,611 shares in the company, valued at approximately $1,771,584.82. The trade was a 2.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Paul Badawi sold 22,362 shares of the stock in a transaction dated Friday, January 16th. The shares were sold at an average price of $6.62, for a total value of $148,036.44. Following the completion of the transaction, the chief executive officer directly owned 6,025,840 shares in the company, valued at $39,891,060.80. This represents a 0.37% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 99,796 shares of company stock valued at $719,722 over the last three months. 30.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Sight Sciences

Several hedge funds and other institutional investors have recently bought and sold shares of SGHT. Long Focus Capital Management LLC raised its position in Sight Sciences by 1.3% during the 3rd quarter. Long Focus Capital Management LLC now owns 3,193,305 shares of the company’s stock worth $10,985,000 after buying an additional 41,797 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Sight Sciences by 5.7% in the 3rd quarter. Vanguard Group Inc. now owns 1,906,696 shares of the company’s stock valued at $6,559,000 after acquiring an additional 102,609 shares during the last quarter. Americana Partners LLC increased its stake in shares of 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 during the period. B Group Inc. raised its holdings in shares of Sight Sciences by 11.6% during the second 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 last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Sight Sciences by 3.3% during the fourth quarter. Geode Capital Management LLC now owns 880,958 shares of the company’s stock worth $6,988,000 after purchasing an additional 27,802 shares during the last quarter. Institutional investors and hedge funds 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.