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

Sight Sciences (NASDAQ:SGHT) had its price target decreased by UBS Group from $5.50 to $5.00 in a research report report published on Monday,Benzinga reports. UBS Group currently has a buy rating on the stock.

Other research analysts have also recently issued research reports about the stock. Lake Street Capital lowered their target price on shares of Sight Sciences from $5.00 to $3.00 and set a “hold” rating on the stock in a research note on Wednesday, January 15th. Citigroup lowered their price objective on Sight Sciences from $5.80 to $4.60 and set a “neutral” rating on the stock in a research report on Wednesday, December 11th. Morgan Stanley cut their target price on 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. Piper Sandler reissued a “neutral” rating and issued a $5.50 price target (down from $6.00) on shares of Sight Sciences in a report on Friday, November 8th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Sight Sciences in a report on Tuesday, January 14th. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, Sight Sciences currently has a consensus rating of “Hold” and a consensus target price of $4.62.

Sight Sciences Stock Performance

Shares of SGHT opened at $2.92 on Monday. The business has a 50-day simple moving average of $3.52 and a two-hundred day simple moving average of $5.25. The company has a quick ratio of 9.74, a current ratio of 10.18 and a debt-to-equity ratio of 0.36. Sight Sciences has a 52 week low of $2.67 and a 52 week high of $8.45. The stock has a market cap of $148.20 million, a price-to-earnings ratio of -2.86 and a beta of 2.57.

Sight Sciences (NASDAQ:SGHT) last released its earnings results on Thursday, November 7th. The company reported ($0.22) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.23) by $0.01. Sight Sciences had a negative net margin of 63.30% and a negative return on equity of 47.28%. The company had revenue of $20.16 million during the quarter, compared to analyst estimates of $20.41 million. On average, analysts expect that Sight Sciences will post -1.01 EPS for the current year.

Insider Buying and Selling at Sight Sciences

In other news, CEO Paul Badawi sold 24,819 shares of the business’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $2.92, for a total value of $72,471.48. Following the sale, the chief executive officer now directly owns 5,676,331 shares in the company, valued at $16,574,886.52. The trade was a 0.44 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In the last quarter, insiders bought 15,000 shares of company stock worth $58,232 and sold 63,014 shares worth $197,295. 28.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in SGHT. Arkadios Wealth Advisors purchased a new stake in Sight Sciences during the fourth quarter valued at approximately $47,000. SG Americas Securities LLC raised its holdings in Sight Sciences by 47.6% during the 4th quarter. SG Americas Securities LLC now owns 17,622 shares of the company’s stock valued at $64,000 after buying an additional 5,681 shares during the period. The Manufacturers Life Insurance Company purchased a new stake in Sight Sciences during the 2nd quarter valued at $95,000. GSA Capital Partners LLP purchased a new position in Sight Sciences during the third quarter worth $136,000. Finally, American Century Companies Inc. increased its position in Sight Sciences by 31.1% during the second quarter. American Century Companies Inc. now owns 35,948 shares of the company’s stock valued at $240,000 after acquiring an additional 8,527 shares during the last quarter. Institutional investors own 55.51% of the company’s stock.

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.