Morgan Stanley Lowers Sight Sciences (NASDAQ:SGHT) Price Target to $5.00

Sight Sciences (NASDAQ:SGHT) had its target price dropped by research analysts at Morgan Stanley from $7.00 to $5.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Morgan Stanley’s price objective points to a potential upside of 18.20% from the stock’s current price.

A number of other research firms also recently weighed in on SGHT. Needham & Company LLC restated a “hold” rating on shares of Sight Sciences in a research note on Friday. Lake Street Capital lowered shares of Sight Sciences from a “buy” rating to a “hold” rating and cut their target price for the company from $10.00 to $5.00 in a research report on Monday, November 4th. Finally, Piper Sandler reiterated a “neutral” rating and set a $5.50 price target (down from $6.00) on shares of Sight Sciences in a report on Friday. Five investment analysts have rated the stock with a hold rating, According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $5.50.

Sight Sciences Stock Performance

Shares of NASDAQ:SGHT opened at $4.23 on Monday. The company’s 50 day simple moving average is $5.93 and its 200 day simple moving average is $6.25. The company has a debt-to-equity ratio of 0.33, a current ratio of 11.01 and a quick ratio of 10.50. Sight Sciences has a 1 year low of $1.58 and a 1 year high of $8.45. The stock has a market capitalization of $212.81 million, a price-to-earnings ratio of -4.15 and a beta of 2.74.

Sight Sciences (NASDAQ:SGHT) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($0.22) EPS for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.01. The company had revenue of $20.16 million during the quarter, compared to analysts’ expectations of $20.41 million. Sight Sciences had a negative return on equity of 45.63% and a negative net margin of 63.30%. As a group, research analysts predict that Sight Sciences will post -1 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Matthew Link sold 21,831 shares of the firm’s stock in a transaction on Monday, October 21st. The stock was sold at an average price of $5.61, for a total transaction of $122,471.91. Following the completion of the transaction, the insider now directly owns 663,550 shares of the company’s stock, valued at $3,722,515.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Sight Sciences news, insider Jeremy B. Hayden sold 4,878 shares of Sight Sciences stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $6.08, for a total value of $29,658.24. Following the completion of the sale, the insider now directly owns 158,687 shares in the company, valued at approximately $964,816.96. The trade was a 0.00 % 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, insider Matthew Link sold 21,831 shares of the company’s stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $5.61, for a total transaction of $122,471.91. Following the transaction, the insider now owns 663,550 shares in the company, valued at $3,722,515.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 97,357 shares of company stock valued at $574,666 in the last ninety days. 28.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in SGHT. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Sight Sciences by 51.9% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 26,653 shares of the company’s stock worth $141,000 after acquiring an additional 9,106 shares during the last quarter. State Board of Administration of Florida Retirement System purchased a new position in shares of Sight Sciences during the first quarter valued at approximately $59,000. Vanguard Group Inc. grew its holdings in Sight Sciences by 5.5% during the first quarter. Vanguard Group Inc. now owns 1,556,450 shares of the company’s stock worth $8,218,000 after buying an additional 81,768 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its holdings in shares of Sight Sciences by 25.5% in the first quarter. Jacobs Levy Equity Management Inc. now owns 377,057 shares of the company’s stock valued at $1,991,000 after purchasing an additional 76,549 shares during the last quarter. Finally, Steele Capital Management Inc. bought a new position in shares of Sight Sciences during the second quarter valued at about $67,000. 55.51% of the stock is owned by institutional investors and hedge funds.

About Sight Sciences

Sight Sciences, Inc, an ophthalmic medical device company, engages in the development and commercialization of surgical and nonsurgical technologies for the treatment of eye diseases. It operates through two segments, Surgical Glaucoma and Dry Eye. The company's products include OMNI Surgical System, an implant-free glaucoma surgery technology indicated to reduce intraocular pressure in adult patients with primary open-angle glaucoma; and SION Surgical Instrument, a manually operated device used in ophthalmic surgical procedures to excise trabecular meshwork.