Stifel Nicolaus Issues Positive Forecast for Sight Sciences (NASDAQ:SGHT) Stock Price

Sight Sciences (NASDAQ:SGHT) had its price target increased by investment analysts at Stifel Nicolaus from $6.00 to $8.00 in a report issued on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Stifel Nicolaus’ price target points to a potential upside of 47.19% from the company’s current price.

A number of other analysts have also commented on the stock. Citigroup lifted their target price on shares of Sight Sciences from $5.50 to $9.10 and gave the stock a “neutral” rating in a report on Thursday, December 11th. Piper Sandler set a $9.00 price objective on Sight Sciences in a research note on Monday, January 5th. William Blair raised Sight Sciences to a “strong-buy” rating in a research note on Friday, January 30th. Raymond James Financial set a $9.00 target price on Sight Sciences in a research report on Monday, January 5th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Sight Sciences in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Sight Sciences currently has a consensus rating of “Moderate Buy” and an average target price of $8.76.

Sight Sciences Trading Up 5.3%

NASDAQ:SGHT traded up $0.28 on Monday, hitting $5.44. 327,109 shares of the stock were exchanged, compared to its average volume of 255,353. The company has a debt-to-equity ratio of 0.62, a quick ratio of 8.93 and a current ratio of 9.60. Sight Sciences has a 52 week low of $2.03 and a 52 week high of $9.24. The stock has a market capitalization of $287.35 million, a price-to-earnings ratio of -6.04 and a beta of 2.43. The company’s 50-day moving average price is $6.58 and its 200 day moving average price is $5.75.

Insider Activity at Sight Sciences

In other news, insider Jeremy B. Hayden sold 9,385 shares of the firm’s stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $7.82, for a total transaction of $73,390.70. Following the completion of the sale, the insider owned 247,205 shares in the company, valued at approximately $1,933,143.10. This trade represents a 3.66% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO James Rodberg sold 4,405 shares of the stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $7.82, for a total value of $34,447.10. Following the transaction, the chief financial officer owned 154,440 shares in the company, valued at approximately $1,207,720.80. This trade represents a 2.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 99,796 shares of company stock valued at $719,722. 28.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Sight Sciences

A number of large investors have recently modified their holdings of the business. Alliancebernstein L.P. raised its holdings in Sight Sciences by 5.5% in the 3rd quarter. Alliancebernstein L.P. now owns 34,380 shares of the company’s stock valued at $118,000 after buying an additional 1,800 shares during the last quarter. Deutsche Bank AG lifted its position in shares of Sight Sciences by 9.8% during the 4th quarter. Deutsche Bank AG now owns 27,355 shares of the company’s stock worth $217,000 after buying an additional 2,439 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in Sight Sciences by 32.7% in the second quarter. Tower Research Capital LLC TRC now owns 11,665 shares of the company’s stock valued at $48,000 after acquiring an additional 2,875 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Sight Sciences by 1.0% in the third quarter. Dimensional Fund Advisors LP now owns 303,634 shares of the company’s stock valued at $1,045,000 after buying an additional 3,051 shares during the period. Finally, CWM LLC grew its stake in Sight Sciences by 70.2% in the 2nd quarter. CWM LLC now owns 7,607 shares of the company’s stock valued at $31,000 after buying an additional 3,137 shares in the last quarter. Institutional investors and hedge funds 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.