Sight Sciences (NASDAQ:SGHT) Rating Increased to Strong-Buy at William Blair

William Blair upgraded shares of Sight Sciences (NASDAQ:SGHT) to a strong-buy rating in a research note issued to investors on Friday,Zacks.com reports.

A number of other analysts also recently commented on the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of Sight Sciences in a research report on Monday, December 29th. UBS Group upped their target price on Sight Sciences from $7.00 to $12.00 and gave the company a “buy” rating in a research note on Tuesday, December 23rd. Piper Sandler set a $9.00 price target on shares of Sight Sciences in a research note on Monday, January 5th. Morgan Stanley boosted their price target on shares of Sight Sciences from $6.00 to $8.00 and gave the company an “equal weight” rating in a report on Tuesday, December 2nd. Finally, Raymond James Financial set a $9.00 target price on shares of Sight Sciences in a research report on Monday, January 5th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $8.30.

Sight Sciences Price Performance

Shares of Sight Sciences stock opened at $6.28 on Friday. 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 $332.02 million, a PE ratio of -6.98 and a beta of 2.42. The firm has a fifty day moving average price of $7.66 and a two-hundred day moving average price of $5.45. Sight Sciences has a fifty-two week low of $2.03 and a fifty-two week high of $9.24.

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

Insider Buying and Selling at Sight Sciences

In other Sight Sciences news, CFO James Rodberg sold 4,405 shares of the company’s stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $7.82, for a total transaction of $34,447.10. Following the sale, the chief financial officer directly owned 154,440 shares of the company’s stock, valued at approximately $1,207,720.80. This represents a 2.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Paul Badawi sold 22,362 shares of the firm’s stock in a transaction that occurred on Friday, January 16th. The stock was sold at an average price of $6.62, for a total transaction of $148,036.44. Following the sale, the chief executive officer directly owned 6,025,840 shares of the company’s stock, valued at approximately $39,891,060.80. The trade was a 0.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 162,214 shares of company stock worth $1,209,132 over the last ninety days. Company insiders own 30.90% of the company’s stock.

Institutional Investors Weigh In On Sight Sciences

Large investors have recently bought and sold shares of the business. AQR Capital Management LLC acquired a new stake in Sight Sciences during the 1st quarter valued at $128,000. Strs Ohio bought a new stake in shares of Sight Sciences during the first quarter worth $158,000. Rhumbline Advisers increased its stake in shares of Sight Sciences by 9.5% in the first quarter. Rhumbline Advisers now owns 49,797 shares of the company’s stock valued at $120,000 after buying an additional 4,319 shares in the last quarter. Vanguard Personalized Indexing Management LLC raised its holdings in shares of Sight Sciences by 38.9% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 15,888 shares of the company’s stock valued at $66,000 after buying an additional 4,453 shares during the last quarter. Finally, CWM LLC lifted its position in Sight Sciences by 70.2% during the 2nd quarter. CWM LLC now owns 7,607 shares of the company’s stock worth $31,000 after buying an additional 3,137 shares in the last quarter. 55.51% of the stock is currently owned by institutional investors.

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.