Sight Sciences (NASDAQ:SGHT) Price Target Raised to $5.00

Sight Sciences (NASDAQ:SGHT) had its price target hoisted by Piper Sandler from $4.00 to $5.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a neutral rating on the stock.

A number of other brokerages have also weighed in on SGHT. Lake Street Capital increased their price target on Sight Sciences from $5.00 to $7.00 and gave the stock a “buy” rating in a research note on Tuesday, October 21st. Wall Street Zen upgraded Sight Sciences from a “sell” rating to a “hold” rating in a research report on Saturday, September 13th. Citigroup lowered their price target on Sight Sciences from $4.50 to $4.00 and set a “neutral” rating for the company in a report on Tuesday, October 7th. Needham & Company LLC reiterated a “hold” rating on shares of Sight Sciences in a report on Thursday, August 28th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Sight Sciences in a research report on Wednesday, October 8th. Three investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $4.83.

Sight Sciences Price Performance

NASDAQ SGHT traded up $0.49 during trading hours on Friday, reaching $6.31. The company’s stock had a trading volume of 218,942 shares, compared to its average volume of 186,523. The company has a debt-to-equity ratio of 0.62, a quick ratio of 8.93 and a current ratio of 9.60. The company’s 50-day moving average is $4.02 and its two-hundred day moving average is $3.83. Sight Sciences has a fifty-two week low of $2.03 and a fifty-two week high of $6.42. The stock has a market cap of $330.45 million, a PE ratio of -7.01 and a beta of 2.46.

Sight Sciences (NASDAQ:SGHT) last released its quarterly earnings results on Wednesday, September 8th. The company reported ($0.81) earnings per share for the quarter. The company had revenue of $12.54 million during the quarter. Sight Sciences had a negative return on equity of 61.59% and a negative net margin of 60.63%. Analysts forecast that Sight Sciences will post -0.99 EPS for the current year.

Insider Transactions at Sight Sciences

In related news, insider Jeremy B. Hayden sold 9,731 shares of the business’s stock in a transaction that occurred on Friday, October 3rd. The stock was sold at an average price of $3.27, for a total transaction of $31,820.37. Following the transaction, the insider directly owned 256,590 shares of the company’s stock, valued at approximately $839,049.30. The trade was a 3.65% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Paul Badawi sold 24,441 shares of the stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $3.34, for a total transaction of $81,632.94. Following the completion of the sale, the chief executive officer directly owned 5,962,502 shares of the company’s stock, valued at $19,914,756.68. This trade represents a 0.41% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 40,796 shares of company stock worth $135,173. 28.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Sight Sciences

A number of large investors have recently added to or reduced their stakes in the company. CWM LLC grew its stake in shares of Sight Sciences by 70.2% during the second quarter. CWM LLC now owns 7,607 shares of the company’s stock valued at $31,000 after acquiring an additional 3,137 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings in Sight Sciences by 32.7% in the second quarter. Tower Research Capital LLC TRC now owns 11,665 shares of the company’s stock valued at $48,000 after purchasing an additional 2,875 shares during the last quarter. Bank of Montreal Can acquired a new stake in shares of Sight Sciences during the second quarter worth approximately $49,000. Vanguard Personalized Indexing Management LLC increased its position in shares of Sight Sciences by 38.9% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 15,888 shares of the company’s stock worth $66,000 after purchasing an additional 4,453 shares during the last quarter. Finally, XTX Topco Ltd bought a new stake in Sight Sciences in the second quarter valued at about $67,000. 55.51% of the stock is owned by institutional investors and hedge funds.

Sight Sciences Company Profile

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.