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

Sight Sciences (NASDAQ:SGHT) had its price objective dropped by investment analysts at Stifel Nicolaus from $6.00 to $5.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Stifel Nicolaus’ target price suggests a potential upside of 80.51% from the company’s previous close.

Other analysts also recently issued research reports about the stock. Morgan Stanley reduced their price objective 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. Citigroup reduced their price target on shares of Sight Sciences from $5.80 to $4.60 and set a “neutral” rating for the company in a research report on Wednesday, December 11th. Lake Street Capital dropped their price objective on Sight Sciences from $5.00 to $3.00 and set a “hold” rating on the stock in a report on Wednesday, January 15th. UBS Group reduced their target price on Sight Sciences from $5.50 to $5.00 and set a “buy” rating for the company in a report on Monday, January 27th. Finally, Piper Sandler reissued a “neutral” rating and issued a $5.50 target price (down from $6.00) on shares of Sight Sciences in a research report on Friday, November 8th. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $4.68.

Sight Sciences Stock Up 2.2 %

Shares of NASDAQ SGHT opened at $2.77 on Thursday. The business has a 50-day moving average of $3.33 and a two-hundred day moving average of $4.97. The company has a market capitalization of $140.61 million, a price-to-earnings ratio of -2.72 and a beta of 2.52. Sight Sciences has a 1 year low of $2.67 and a 1 year high of $8.45. 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 (NASDAQ:SGHT) last posted its earnings results on Thursday, November 7th. The company reported ($0.22) earnings per share for the quarter, topping the consensus estimate of ($0.23) by $0.01. The firm 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%. On average, analysts forecast that Sight Sciences will post -1 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Paul Badawi sold 12,236 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $3.60, for a total value of $44,049.60. Following the transaction, the chief executive officer now owns 5,713,197 shares of the company’s stock, valued at approximately $20,567,509.20. The trade was a 0.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last three months, insiders acquired 15,000 shares of company stock valued at $58,232 and sold 63,014 shares valued at $197,295. Corporate insiders own 28.90% of the company’s stock.

Hedge Funds Weigh In On Sight Sciences

Hedge funds and other institutional investors have recently bought and sold shares of the company. KCK LTD. acquired a new stake in shares of Sight Sciences in the 4th quarter worth $15,925,000. Millrace Asset Group Inc. purchased a new position in Sight Sciences during the third quarter worth about $874,000. State Street Corp lifted its position in Sight Sciences by 17.4% in the third quarter. State Street Corp now owns 646,776 shares of the company’s stock valued at $4,075,000 after purchasing an additional 95,843 shares during the period. Jacobs Levy Equity Management Inc. lifted its position in Sight Sciences by 46.3% in the third quarter. Jacobs Levy Equity Management Inc. now owns 207,893 shares of the company’s stock valued at $1,310,000 after purchasing an additional 65,767 shares during the period. Finally, JPMorgan Chase & Co. boosted its holdings in Sight Sciences by 335.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 69,660 shares of the company’s stock valued at $439,000 after purchasing an additional 53,658 shares in the last quarter. 55.51% of the stock is currently owned by hedge funds and other institutional investors.

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.