Sight Sciences (NASDAQ:SGHT) Price Target Lowered to $3.50 at Piper Sandler

Sight Sciences (NASDAQ:SGHT) had its target price lowered by Piper Sandler from $5.50 to $3.50 in a report published on Thursday,Benzinga reports. The firm currently has a neutral rating on the stock.

Several other research firms also recently issued reports on SGHT. Lake Street Capital dropped their price target 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. UBS Group cut their price target on Sight Sciences from $5.50 to $5.00 and set a “buy” rating on the stock in a research note on Monday, January 27th. Citigroup lowered their price objective on Sight Sciences from $4.60 to $3.00 and set a “neutral” rating for the company in a research note on Tuesday. Needham & Company LLC reaffirmed a “hold” rating on shares of Sight Sciences in a research report on Thursday. Finally, Morgan Stanley decreased 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 report on Monday, November 11th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $3.83.

Sight Sciences Trading Up 2.9 %

Shares of SGHT opened at $2.49 on Thursday. The company has a debt-to-equity ratio of 0.36, a current ratio of 10.18 and a quick ratio of 9.74. Sight Sciences has a 12 month low of $2.17 and a 12 month high of $8.45. The stock has a market cap of $126.38 million, a PE ratio of -2.44 and a beta of 2.52. The stock’s 50-day moving average is $2.92 and its two-hundred day moving average is $4.43.

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

Insider Transactions at Sight Sciences

In related news, 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 transaction, the chief executive officer now directly owns 5,676,331 shares in the company, valued at $16,574,886.52. This trade represents a 0.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last quarter, insiders sold 63,014 shares of company stock worth $197,295. 28.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Sight Sciences

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

Sight Sciences Company Profile

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.