Sight Sciences, Inc. (NASDAQ:SGHT) Receives $3.83 Consensus Price Target from Brokerages

Shares of Sight Sciences, Inc. (NASDAQ:SGHT) have earned a consensus recommendation of “Hold” from the seven ratings firms that are currently covering the firm, MarketBeat reports. Five analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12 month target price among analysts that have covered the stock in the last year is $3.83.

Several research analysts have recently weighed in on the stock. Stifel Nicolaus dropped their target price on shares of Sight Sciences from $5.00 to $4.00 and set a “buy” rating on the stock in a research report on Thursday, March 6th. Lake Street Capital cut their target price on shares of Sight Sciences from $3.00 to $2.50 and set a “hold” rating on the stock in a research note on Thursday, March 6th. Needham & Company LLC reiterated a “hold” rating on shares of Sight Sciences in a report on Thursday, March 6th. Piper Sandler decreased their price objective on Sight Sciences from $5.50 to $3.50 and set a “neutral” rating for the company in a research report on Thursday, March 6th. Finally, Citigroup lowered their price objective on shares of Sight Sciences from $4.60 to $3.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 4th.

Sight Sciences Price Performance

NASDAQ SGHT opened at $2.88 on Friday. Sight Sciences has a 1 year low of $2.17 and a 1 year high of $8.45. The business’s fifty day moving average is $2.78 and its two-hundred day moving average is $4.18. The stock has a market capitalization of $147.84 million, a P/E ratio of -2.82 and a beta of 2.52. The company has a debt-to-equity ratio of 0.36, a quick ratio of 9.74 and a current ratio of 10.18.

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

Insider Buying and Selling at Sight Sciences

In related news, EVP Manohar K. Raheja purchased 10,000 shares of Sight Sciences stock in a transaction on Wednesday, March 12th. The stock was purchased at an average cost of $2.73 per share, with a total value of $27,300.00. Following the acquisition, the executive vice president now directly owns 145,000 shares in the company, valued at approximately $395,850. This trade represents a 7.41 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Paul Badawi sold 24,819 shares of the firm’s stock in a transaction on Thursday, January 16th. The stock was 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 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 disclosure for this sale can be found here. Insiders have sold 63,014 shares of company stock valued at $197,295 in the last 90 days. 28.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. American Century Companies Inc. boosted its position in Sight Sciences by 10.7% in the fourth quarter. American Century Companies Inc. now owns 51,564 shares of the company’s stock valued at $188,000 after buying an additional 4,964 shares in the last quarter. SG Americas Securities LLC boosted its holdings in shares of Sight Sciences by 47.6% in the 4th quarter. SG Americas Securities LLC now owns 17,622 shares of the company’s stock worth $64,000 after acquiring an additional 5,681 shares in the last quarter. Wells Fargo & Company MN increased its holdings in Sight Sciences by 53.4% during the 4th quarter. Wells Fargo & Company MN now owns 16,600 shares of the company’s stock valued at $60,000 after purchasing an additional 5,781 shares in the last quarter. Barclays PLC increased its holdings in Sight Sciences by 11.9% during the 4th quarter. Barclays PLC now owns 56,294 shares of the company’s stock valued at $205,000 after purchasing an additional 5,994 shares in the last quarter. Finally, Northern Trust Corp raised its position in Sight Sciences by 2.1% in the 4th quarter. Northern Trust Corp now owns 332,491 shares of the company’s stock valued at $1,210,000 after purchasing an additional 6,727 shares during the last quarter. Institutional investors 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.