Morgan Stanley Forecasts Strong Price Appreciation for Sight Sciences (NASDAQ:SGHT) Stock

Sight Sciences (NASDAQ:SGHT) had its target price increased by equities research analysts at Morgan Stanley from $4.00 to $6.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Morgan Stanley’s price objective indicates a potential downside of 8.61% from the company’s previous close.

A number of other equities analysts have also recently issued reports on the company. Citigroup cut their target price on Sight Sciences from $4.50 to $4.00 and set a “neutral” rating on the stock in a report on Tuesday, October 7th. Needham & Company LLC reiterated a “hold” rating on shares of Sight Sciences in a research note on Thursday, August 28th. Lake Street Capital upped their target price on shares of Sight Sciences from $5.00 to $7.00 and gave the stock a “buy” rating in a report on Tuesday, October 21st. Wall Street Zen upgraded shares of Sight Sciences from a “sell” rating to a “hold” rating in a research report on Saturday, September 13th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Sight Sciences in a research report on Wednesday, October 8th. Three analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Sight Sciences has an average rating of “Hold” and a consensus price target of $5.17.

Sight Sciences Price Performance

SGHT traded up $0.75 on Monday, reaching $6.57. 374,572 shares of the company’s stock were exchanged, compared to its average volume of 187,162. The stock’s fifty day moving average price is $4.02 and its 200-day moving average price is $3.83. The stock has a market cap of $343.81 million, a PE ratio of -7.29 and a beta of 2.46. The company has a debt-to-equity ratio of 0.62, a current ratio of 9.60 and a quick ratio of 8.93. Sight Sciences has a twelve month low of $2.03 and a twelve month high of $6.57.

Sight Sciences (NASDAQ:SGHT) last announced its earnings results on Wednesday, September 8th. The company reported ($0.81) earnings per share (EPS) for the quarter. Sight Sciences had a negative net margin of 60.63% and a negative return on equity of 61.59%. The firm had revenue of $12.54 million during the quarter. Sell-side analysts expect that Sight Sciences will post -0.99 EPS for the current year.

Insider Activity

In other news, CEO Paul Badawi sold 24,441 shares of the business’s stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $3.34, for a total value of $81,632.94. Following the completion of the transaction, the chief executive officer directly owned 5,962,502 shares of the company’s stock, valued at approximately $19,914,756.68. The trade was a 0.41% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jeremy B. Hayden sold 9,731 shares of the firm’s stock in a transaction on Friday, October 3rd. The stock was sold at an average price of $3.27, for a total transaction of $31,820.37. Following the completion of the transaction, the insider directly owned 256,590 shares of the company’s stock, valued at approximately $839,049.30. This represents a 3.65% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 40,796 shares of company stock valued at $135,173. 28.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Sight Sciences

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Nuveen LLC acquired a new position in shares of Sight Sciences in the 1st quarter worth approximately $154,000. Long Focus Capital Management LLC grew its position in Sight Sciences by 39.7% during the 1st quarter. Long Focus Capital Management LLC now owns 3,126,508 shares of the company’s stock worth $7,504,000 after purchasing an additional 887,876 shares in the last quarter. AQR Capital Management LLC acquired a new stake in shares of Sight Sciences during the first quarter worth approximately $128,000. Acadian Asset Management LLC lifted its position in Sight Sciences by 127.7% during the 1st quarter. Acadian Asset Management LLC now owns 432,541 shares of the company’s stock worth $1,033,000 after acquiring an additional 242,559 shares during the last quarter. Finally, Strs Ohio bought a new stake in Sight Sciences in the 1st quarter valued at $158,000. Hedge funds and other 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.