Sight Sciences (NASDAQ:SGHT) Upgraded by Wall Street Zen to Buy Rating

Wall Street Zen upgraded shares of Sight Sciences (NASDAQ:SGHT) from a hold rating to a buy rating in a research report report published on Saturday morning.

Several other equities research analysts also recently issued reports on SGHT. Weiss Ratings downgraded Sight Sciences from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, May 11th. UBS Group lifted their price target on Sight Sciences from $7.00 to $8.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Citigroup boosted their price objective on Sight Sciences from $5.15 to $6.00 and gave the company a “neutral” rating in a research note on Wednesday, July 8th. Five equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Sight Sciences presently has an average rating of “Hold” and an average price target of $7.88.

Sight Sciences Stock Performance

NASDAQ SGHT opened at $7.47 on Friday. The company’s 50 day moving average is $5.24 and its 200-day moving average is $4.92. Sight Sciences has a 12-month low of $3.19 and a 12-month high of $9.24. The company has a quick ratio of 5.48, a current ratio of 4.95 and a debt-to-equity ratio of 0.58. The firm has a market cap of $406.44 million, a P/E ratio of -13.34 and a beta of 2.38.

Sight Sciences (NASDAQ:SGHT) last announced its quarterly earnings results on Wednesday, August 5th. The company reported ($0.08) EPS for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.10. The company had revenue of $23.39 million for the quarter, compared to analysts’ expectations of $21.72 million. Sight Sciences had a negative net margin of 35.69% and a negative return on equity of 43.39%. Sell-side analysts predict that Sight Sciences will post -0.56 earnings per share for the current year.

Insider Activity

In other Sight Sciences news, insider Jeremy B. Hayden sold 12,733 shares of the stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $5.51, for a total value of $70,158.83. Following the sale, the insider directly owned 357,037 shares in the company, valued at $1,967,273.87. This represents a 3.44% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Paul Badawi sold 28,684 shares of the firm’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $5.42, for a total transaction of $155,467.28. Following the completion of the transaction, the chief executive officer directly owned 6,122,472 shares of the company’s stock, valued at approximately $33,183,798.24. The trade was a 0.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 58,566 shares of company stock valued at $318,827. 30.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On Sight Sciences

Large investors have recently added to or reduced their stakes in the business. BlackRock Inc. bought a new position in Sight Sciences in the 2nd quarter worth about $16,710,000. Deutsche Bank AG bought a new stake in shares of Sight Sciences during the 2nd quarter valued at about $184,000. SCS Capital Management LLC purchased a new position in shares of Sight Sciences during the second quarter worth about $488,000. Bank of New York Mellon Corp bought a new position in shares of Sight Sciences in the second quarter worth approximately $495,000. Finally, GSA Capital Partners LLP bought a new position in shares of Sight Sciences in the second quarter worth approximately $908,000. Institutional investors 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.