Brokerages Set Sight Sciences, Inc. (NASDAQ:SGHT) Target Price at $8.14

Shares of Sight Sciences, Inc. (NASDAQ:SGHT) have earned a consensus recommendation of “Hold” from the nine brokerages that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and five have issued a buy recommendation on the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $8.1438.

A number of research firms have commented on SGHT. Citigroup raised their target price on Sight Sciences from $4.35 to $5.15 and gave the company a “neutral” rating in a report on Thursday, May 28th. William Blair reissued an “outperform” rating on shares of Sight Sciences in a report on Thursday, March 5th. Stifel Nicolaus raised their target price on Sight Sciences from $6.00 to $8.00 and gave the company a “buy” rating in a report on Monday, March 2nd. Cantor Fitzgerald set a $8.00 target price on Sight Sciences in a report on Monday, March 2nd. Finally, UBS Group reduced their target price on Sight Sciences from $12.00 to $11.00 and set a “buy” rating for the company in a report on Friday, March 6th.

Sight Sciences Stock Performance

NASDAQ:SGHT opened at $5.02 on Tuesday. The firm’s fifty day moving average price is $4.48 and its 200 day moving average price is $5.62. Sight Sciences has a 1-year low of $3.11 and a 1-year high of $9.24. The company has a debt-to-equity ratio of 0.68, a current ratio of 5.86 and a quick ratio of 5.48. The firm has a market cap of $273.14 million, a price-to-earnings ratio of -7.07 and a beta of 2.41.

Sight Sciences (NASDAQ:SGHT) last released its earnings results on Wednesday, May 6th. The company reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.05). Sight Sciences had a negative net margin of 46.83% and a negative return on equity of 52.34%. The business had revenue of $19.70 million during the quarter, compared to analyst estimates of $18.47 million. On average, sell-side analysts expect that Sight Sciences will post -0.6 EPS for the current year.

Insiders Place Their Bets

In other news, CFO James Rodberg sold 7,231 shares of Sight Sciences stock in a transaction on Monday, April 6th. The stock was sold at an average price of $3.55, for a total transaction of $25,670.05. Following the completion of the transaction, the chief financial officer owned 230,939 shares of the company’s stock, valued at $819,833.45. The trade was a 3.04% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jeremy B. Hayden sold 13,761 shares of Sight Sciences stock in a transaction on Monday, April 6th. The stock was sold at an average price of $3.55, for a total value of $48,851.55. Following the transaction, the insider directly owned 369,770 shares of the company’s stock, valued at $1,312,683.50. This trade represents a 3.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 61,273 shares of company stock worth $221,764 in the last ninety days. 28.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. BNP Paribas Financial Markets raised its stake in shares of Sight Sciences by 99.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 7,579 shares of the company’s stock worth $26,000 after buying an additional 3,785 shares during the last quarter. O Shaughnessy Asset Management LLC acquired a new position in shares of Sight Sciences during the 4th quarter worth $81,000. AXQ Capital LP acquired a new position in shares of Sight Sciences during the 4th quarter worth $89,000. Tower Research Capital LLC TRC raised its stake in shares of Sight Sciences by 32.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 11,665 shares of the company’s stock worth $48,000 after buying an additional 2,875 shares during the last quarter. Finally, The Manufacturers Life Insurance Company acquired a new position in shares of Sight Sciences during the 4th quarter worth $96,000. Institutional investors and hedge funds own 55.51% of the company’s stock.

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.