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

Sight Sciences (NASDAQ:SGHT) had its target price decreased by Stifel Nicolaus from $5.00 to $4.00 in a report issued on Thursday morning,Benzinga reports. Stifel Nicolaus currently has a buy rating on the stock.

Several other research firms have also recently commented on SGHT. Citigroup lowered their target price on Sight Sciences from $4.60 to $3.00 and set a “neutral” rating for the company in a research note on Tuesday. Piper Sandler lowered 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. UBS Group cut their target price on shares of Sight Sciences from $5.50 to $5.00 and set a “buy” rating on the stock in a research report on Monday, January 27th. Lake Street Capital reduced their target price on shares of Sight Sciences from $5.00 to $3.00 and set a “hold” rating on the stock in a research note on Wednesday, January 15th. Finally, Morgan Stanley dropped their price target on shares of Sight Sciences from $7.00 to $5.00 and set an “equal weight” rating for the company in a research note on Monday, November 11th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $3.83.

Sight Sciences Stock Up 2.9 %

Shares of NASDAQ SGHT opened at $2.49 on Thursday. Sight Sciences has a 12-month low of $2.17 and a 12-month high of $8.45. The firm’s 50-day simple moving average is $2.92 and its 200 day simple moving average is $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. The company has a market cap of $126.38 million, a price-to-earnings ratio of -2.44 and a beta of 2.52.

Sight Sciences (NASDAQ:SGHT) last announced its earnings results on Wednesday, March 5th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company had revenue of $19.07 million for the quarter, compared to analyst estimates of $18.98 million. During the same quarter in the previous year, the company posted ($0.22) earnings per share. On average, research analysts expect that Sight Sciences will post -0.99 earnings per share for the current fiscal year.

Insider Activity at Sight Sciences

In related news, CEO Paul Badawi sold 24,819 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 5,676,331 shares in the company, valued at approximately $16,574,886.52. The trade was a 0.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 63,014 shares of company stock worth $197,295 in the last ninety days. Company insiders own 28.90% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. KCK LTD. bought a new stake in Sight Sciences during the 4th quarter worth approximately $15,925,000. Barclays PLC boosted its holdings in shares of Sight Sciences by 317.4% in the third quarter. Barclays PLC now owns 50,300 shares of the company’s stock valued at $317,000 after buying an additional 38,248 shares during the period. Millrace Asset Group Inc. bought a new stake in shares of Sight Sciences during the third quarter worth $874,000. Geode Capital Management LLC raised its holdings in shares of Sight Sciences by 1.6% during the third quarter. Geode Capital Management LLC now owns 784,129 shares of the company’s stock worth $4,941,000 after acquiring an additional 12,709 shares during the period. Finally, State Street Corp lifted its position in Sight Sciences by 17.4% in the 3rd quarter. State Street Corp now owns 646,776 shares of the company’s stock valued at $4,075,000 after acquiring an additional 95,843 shares in the last quarter. 55.51% of the stock is owned by institutional investors and hedge funds.

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.