Sight Sciences (NASDAQ:SGHT) Earns Buy Rating from Analysts at UBS Group

UBS Group began coverage on shares of Sight Sciences (NASDAQ:SGHT) in a research report report published on Tuesday, Marketbeat Ratings reports. The firm issued a buy rating and a $7.00 price target on the stock.

Several other equities research analysts also recently weighed in on the stock. Weiss Ratings downgraded shares of Sight Sciences from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, May 11th. Citigroup upped their price target on Sight Sciences from $5.15 to $6.00 and gave the stock a “neutral” rating in a research report 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 assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $7.75.

Sight Sciences Stock Performance

SGHT stock opened at $5.26 on Tuesday. The firm has a market cap of $286.20 million, a price-to-earnings ratio of -7.41 and a beta of 2.38. The firm has a 50-day simple moving average of $5.10 and a two-hundred day simple moving average of $4.94. Sight Sciences has a one year low of $3.11 and a one year high of $9.24. The company has a debt-to-equity ratio of 0.68, a quick ratio of 5.48 and a current ratio of 5.86.

Sight Sciences (NASDAQ:SGHT) last released its quarterly earnings results on Wednesday, May 6th. The company reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.05). The firm had revenue of $19.70 million during the quarter, compared to the consensus estimate of $18.46 million. Sight Sciences had a negative net margin of 46.83% and a negative return on equity of 52.34%. On average, equities analysts forecast that Sight Sciences will post -0.6 EPS for the current fiscal year.

Insider Transactions at Sight Sciences

In other news, CTO David Badawi sold 7,418 shares of the stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $5.51, for a total value of $40,873.18. Following the transaction, the chief technology officer directly owned 1,982,872 shares of the company’s stock, valued at approximately $10,925,624.72. This represents a 0.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO James Rodberg sold 6,902 shares of the firm’s stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $5.36, for a total value of $36,994.72. Following the completion of the transaction, the chief financial officer owned 224,037 shares of the company’s stock, valued at approximately $1,200,838.32. The trade was a 2.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 58,566 shares of company stock worth $318,827 in the last 90 days. 30.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Sight Sciences

Hedge funds and other institutional investors have recently bought and sold shares of the business. BNP Paribas Financial Markets raised its position in Sight Sciences by 99.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 7,579 shares of the company’s stock worth $26,000 after buying an additional 3,785 shares during the last quarter. O Shaughnessy Asset Management LLC purchased a new stake in shares of Sight Sciences in the 4th quarter valued at $81,000. AXQ Capital LP purchased a new stake in shares of Sight Sciences in the 4th quarter valued at $89,000. Tower Research Capital LLC TRC boosted its holdings in shares of Sight Sciences by 32.7% in the 2nd 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. Finally, The Manufacturers Life Insurance Company acquired a new stake in shares of Sight Sciences in the fourth quarter worth $96,000. 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.