Sight Sciences (NASDAQ:SGHT) Price Target Cut to $4.00 by Analysts at Stifel Nicolaus

Sight Sciences (NASDAQ:SGHT) had its target price reduced by Stifel Nicolaus from $5.00 to $4.00 in a research note published on Thursday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other research analysts have also weighed in on the stock. Morgan Stanley dropped their price objective on shares of Sight Sciences from $7.00 to $5.00 and set an “equal weight” rating on the stock in a research note on Monday, November 11th. Piper Sandler dropped their price target on shares of Sight Sciences from $5.50 to $3.50 and set a “neutral” rating on the stock in a research note on Thursday. Needham & Company LLC reissued a “hold” rating on shares of Sight Sciences in a research report on Thursday. Lake Street Capital dropped their target price on Sight Sciences from $5.00 to $3.00 and set a “hold” rating on the stock in a research report on Wednesday, January 15th. Finally, UBS Group reduced their price target on Sight Sciences from $5.50 to $5.00 and set a “buy” rating for the company in a report on Monday, January 27th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $3.83.

Sight Sciences Price Performance

SGHT opened at $2.49 on Thursday. The firm has a market capitalization of $126.38 million, a P/E ratio of -2.44 and a beta of 2.52. The stock has a fifty day moving average of $2.92 and a 200-day moving average of $4.43. The company has a quick ratio of 9.74, a current ratio of 10.18 and a debt-to-equity ratio of 0.36. Sight Sciences has a 12-month low of $2.17 and a 12-month high of $8.45.

Sight Sciences (NASDAQ:SGHT) last announced its quarterly earnings data on Wednesday, March 5th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.01). Sight Sciences had a negative return on equity of 47.28% and a negative net margin of 63.30%. The business had revenue of $19.07 million during the quarter, compared to analysts’ expectations of $18.98 million. During the same period in the prior year, the company posted ($0.22) earnings per share. Equities analysts forecast that Sight Sciences will post -0.99 EPS for the current fiscal year.

Insiders Place Their Bets

In other Sight Sciences news, CEO Paul Badawi sold 24,819 shares of the company’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $2.92, for a total transaction of $72,471.48. Following the completion of the sale, the chief executive officer now directly owns 5,676,331 shares in the company, valued at $16,574,886.52. This represents a 0.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 63,014 shares of company stock valued at $197,295 over the last quarter. Insiders own 28.90% of the company’s stock.

Hedge Funds Weigh In On Sight Sciences

Several large investors have recently made changes to their positions in the business. ProShare Advisors LLC bought a new stake in Sight Sciences during the 4th quarter valued at approximately $36,000. Dynamic Technology Lab Private Ltd bought a new position in Sight Sciences in the fourth quarter worth $40,000. Arkadios Wealth Advisors bought a new position in shares of Sight Sciences during the 4th quarter worth about $47,000. WealthTrust Asset Management LLC acquired a new stake in Sight Sciences during the fourth quarter valued at approximately $48,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Sight Sciences in the 4th quarter valued at $50,000. Institutional investors and hedge funds own 55.51% of the company’s stock.

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.