Sight Sciences (NASDAQ:SGHT) Price Target Cut to $5.00 by Analysts at UBS Group

Sight Sciences (NASDAQ:SGHT) had its target price dropped by analysts at UBS Group from $5.50 to $5.00 in a report released on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. UBS Group’s price objective indicates a potential upside of 59.74% from the stock’s current price.

Several other research analysts also recently issued reports on the stock. Morgan Stanley dropped their price objective on shares of Sight Sciences from $7.00 to $5.00 and set an “equal weight” rating on the stock in a report on Monday, November 11th. Needham & Company LLC reaffirmed a “hold” rating on shares of Sight Sciences in a report on Tuesday, January 14th. Lake Street Capital reduced their price objective on Sight Sciences from $5.00 to $3.00 and set a “hold” rating for the company in a research report on Wednesday, January 15th. Citigroup cut their target price on Sight Sciences from $5.80 to $4.60 and set a “neutral” rating for the company in a research note on Wednesday, December 11th. Finally, Piper Sandler reiterated a “neutral” rating and set a $5.50 price target (down previously from $6.00) on shares of Sight Sciences in a research note on Friday, November 8th. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $4.62.

Sight Sciences Price Performance

NASDAQ SGHT opened at $3.13 on Monday. The stock has a market capitalization of $158.88 million, a PE ratio of -3.07 and a beta of 2.57. The stock has a 50-day simple moving average of $3.50 and a 200 day simple moving average of $5.21. 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 has a twelve month low of $2.67 and a twelve month high of $8.45.

Sight Sciences (NASDAQ:SGHT) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($0.22) earnings per share for the quarter, beating the consensus estimate of ($0.23) by $0.01. The company had revenue of $20.16 million during the quarter, compared to analysts’ expectations of $20.41 million. Sight Sciences had a negative return on equity of 47.28% and a negative net margin of 63.30%. Research analysts anticipate that Sight Sciences will post -1.01 EPS for the current year.

Insider Transactions at Sight Sciences

In other news, CEO Paul Badawi sold 24,819 shares of the firm’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $2.92, for a total transaction of $72,471.48. Following the sale, the chief executive officer now owns 5,676,331 shares of the company’s stock, valued at $16,574,886.52. This trade represents a 0.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last quarter, insiders acquired 15,000 shares of company stock worth $58,232 and sold 63,014 shares worth $197,295. 28.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in SGHT. SG Americas Securities LLC acquired a new stake in Sight Sciences in the 3rd quarter valued at about $75,000. Arkadios Wealth Advisors acquired a new stake in shares of Sight Sciences in the fourth quarter valued at approximately $47,000. The Manufacturers Life Insurance Company acquired a new position in Sight Sciences in the second quarter valued at about $95,000. Stoneridge Investment Partners LLC bought a new stake in Sight Sciences during the fourth quarter worth about $55,000. Finally, GSA Capital Partners LLP acquired a new stake in Sight Sciences during the third quarter worth about $136,000. 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.