Sight Sciences (NASDAQ:SGHT) Price Target Raised to $13.50

Sight Sciences (NASDAQ:SGHT) had its target price raised by UBS Group from $8.00 to $13.50 in a research report released on Thursday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

SGHT has been the topic of a number of other research reports. Wall Street Zen upgraded shares of Sight Sciences from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. HC Wainwright began coverage on shares of Sight Sciences in a research report on Thursday, October 15th. They issued a “buy” rating and a $14.00 price target for the company. Citigroup lifted their price target on shares of Sight Sciences from $8.00 to $10.00 and gave the company a “neutral” rating in a research report on Monday, October 5th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Sight Sciences in a research note on Wednesday, November 4th. Finally, Piper Sandler reissued an “overweight” rating and set a $12.00 price target (up from $9.00) on shares of Sight Sciences in a research report on Thursday, November 5th. Five equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Sight Sciences currently has an average rating of “Moderate Buy” and an average target price of $10.31.

Sight Sciences Stock Performance

SGHT stock traded down $0.16 during trading hours on Thursday, hitting $10.83. 223,729 shares of the stock were exchanged, compared to its average volume of 408,244. Sight Sciences has a 12 month low of $3.38 and a 12 month high of $11.60. The company has a current ratio of 5.04, a quick ratio of 4.72 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $601.93 million, a P/E ratio of -20.83 and a beta of 2.44. The company has a 50-day simple moving average of $8.97 and a two-hundred day simple moving average of $6.20.

Sight Sciences (NASDAQ:SGHT) last announced its earnings results on Wednesday, November 4th. The company reported ($0.12) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.12). Sight Sciences had a negative net margin of 32.13% and a negative return on equity of 43.91%. The company had revenue of $24.92 million during the quarter, compared to analysts’ expectations of $23.55 million. On average, analysts forecast that Sight Sciences will post -0.48 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Sight Sciences news, CEO Paul Badawi sold 29,653 shares of the company’s stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $9.05, for a total transaction of $268,359.65. Following the completion of the sale, the chief executive officer directly owned 6,092,819 shares in the company, valued at $55,140,011.95. This represents a 0.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Brenton Taylor sold 2,988 shares of the firm’s stock in a transaction on Friday, October 2nd. The shares were sold at an average price of $8.85, for a total value of $26,443.80. Following the completion of the sale, the executive vice president directly owned 261,990 shares in the company, valued at approximately $2,318,611.50. This represents a 1.13% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 47,646 shares of company stock valued at $429,157 over the last ninety days. Company insiders own 30.40% of the company’s stock.

Institutional Trading of Sight Sciences

Several large investors have recently bought and sold shares of the business. BlackRock Inc. bought a new position in shares of Sight Sciences in the 2nd quarter valued at $16,710,000. Royce & Associates LP acquired a new position in Sight Sciences in the 3rd quarter worth about $1,676,000. GSA Capital Partners LLP bought a new position in Sight Sciences in the second quarter valued at about $908,000. Bank of America Corp DE bought a new position in Sight Sciences in the second quarter valued at about $520,000. Finally, Bank of New York Mellon Corp bought a new position in Sight Sciences in the second quarter valued at about $495,000. 55.51% of the stock is owned by institutional investors and hedge funds.

Sight Sciences Company Profile

Sight Sciences is a medical technology company that develops and commercializes devices for ophthalmic care, with a focus on glaucoma and dry eye disease. Its products are designed to support minimally invasive procedures and address underlying causes of these conditions. The company’s portfolio includes the OMNI Surgical System, used in procedures to reduce eye pressure in patients with glaucoma, and TearCare, a device-based treatment for evaporative dry eye associated with meibomian gland dysfunction.