Sight Sciences, Inc. (NASDAQ:SGHT) Stock Has Consensus Target Price of $9.62 According to Brokerages

Shares of Sight Sciences, Inc. (NASDAQ:SGHT) have been given a consensus rating of “Moderate Buy” by the eight ratings firms that are covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $9.62.

A number of equities analysts have weighed in on SGHT shares. Citigroup boosted their price target on Sight Sciences from $8.00 to $10.00 and gave the stock a “neutral” rating in a research report on Monday, October 5th. Piper Sandler reaffirmed an “overweight” rating and issued a $12.00 price objective (up from $9.00) on shares of Sight Sciences in a research report on Thursday, November 5th. HC Wainwright initiated coverage on Sight Sciences in a research note on Thursday, October 15th. They set a “buy” rating and a $14.00 target price for the company. Wall Street Zen upgraded Sight Sciences from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Finally, UBS Group boosted their target price on Sight Sciences from $7.00 to $8.00 and gave the stock a “buy” rating in a report on Thursday, August 6th.

Sight Sciences Price Performance

Shares of SGHT opened at $10.75 on Friday. The company has a market cap of $597.49 million, a price-to-earnings ratio of -20.67 and a beta of 2.44. Sight Sciences has a 1-year low of $3.38 and a 1-year high of $11.16. The company’s fifty day simple moving average is $8.81 and its 200 day simple moving average is $6.13. The company has a current ratio of 5.04, a quick ratio of 4.72 and a debt-to-equity ratio of 0.71.

Sight Sciences (NASDAQ:SGHT) last announced its quarterly earnings results on Wednesday, November 4th. The company reported ($0.12) EPS for the quarter, meeting analysts’ consensus estimates of ($0.12). The firm had revenue of $24.92 million during the quarter, compared to analysts’ expectations of $23.55 million. Sight Sciences had a negative net margin of 32.13% and a negative return on equity of 43.91%. On average, research analysts forecast that Sight Sciences will post -0.48 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Sight Sciences news, CTO David Badawi sold 7,797 shares of the firm’s stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $9.05, for a total transaction of $70,562.85. Following the completion of the sale, the chief technology officer owned 1,975,075 shares of the company’s stock, valued at $17,874,428.75. This trade represents a 0.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Paul Badawi sold 29,653 shares of Sight Sciences stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $9.05, for a total transaction of $268,359.65. Following the transaction, the chief executive officer directly owned 6,092,819 shares of the company’s stock, valued at approximately $55,140,011.95. This trade represents a 0.48% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 47,646 shares of company stock worth $429,157. Company insiders own 30.40% of the company’s stock.

Institutional Trading of Sight Sciences

Several hedge funds and other institutional investors have recently modified their holdings of SGHT. Ieq Capital LLC increased its stake in shares of Sight Sciences by 7.3% during the third quarter. Ieq Capital LLC now owns 26,635 shares of the company’s stock worth $249,000 after purchasing an additional 1,803 shares during the period. Royce & Associates LP bought a new position in Sight Sciences during the 3rd quarter worth $1,676,000. Diversified Trust Co increased its position in Sight Sciences by 27.3% during the 3rd quarter. Diversified Trust Co now owns 18,989 shares of the company’s stock worth $178,000 after buying an additional 4,068 shares during the period. R Squared Ltd lifted its holdings in shares of Sight Sciences by 20.7% during the third quarter. R Squared Ltd now owns 19,759 shares of the company’s stock worth $185,000 after buying an additional 3,388 shares in the last quarter. Finally, Hsbc Holdings PLC lifted its holdings in shares of Sight Sciences by 21.6% during the second quarter. Hsbc Holdings PLC now owns 46,707 shares of the company’s stock worth $255,000 after buying an additional 8,297 shares in the last quarter. Institutional investors own 55.51% of the company’s stock.

About Sight Sciences

Sight Sciences, Inc. is an ophthalmic medical technology company focused on developing and commercializing products designed to address the underlying causes of certain eye diseases. The company’s portfolio is centered on minimally invasive and non-invasive procedures intended to improve patient outcomes while supporting physicians in the treatment of glaucoma and ocular surface disease. Its primary products include the OMNI Surgical System, a minimally invasive glaucoma surgery device used to reduce intraocular pressure by improving the eye’s natural fluid outflow pathways, and the TearCare System, a thermal pulsation technology designed to treat meibomian gland dysfunction, a common cause of evaporative dry eye disease.