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

Sight Sciences, Inc. (NASDAQ:SGHT) has been given a consensus recommendation of “Moderate Buy” by the eight research firms that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $9.62.

A number of research firms have recently issued reports on SGHT. Citigroup lifted their price objective on shares of Sight Sciences from $8.00 to $10.00 and gave the company a “neutral” rating in a research note on Monday, October 5th. Weiss Ratings restated a “sell (e+)” rating on shares of Sight Sciences in a research note on Wednesday. Wall Street Zen raised shares of Sight Sciences from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. UBS Group raised their price target on shares of Sight Sciences from $7.00 to $8.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Finally, HC Wainwright began coverage on shares of Sight Sciences in a research note on Thursday, October 15th. They set a “buy” rating and a $14.00 price target on the stock.

Sight Sciences Price Performance

Shares of NASDAQ SGHT opened at $10.08 on Friday. The company has a debt-to-equity ratio of 0.71, a current ratio of 5.04 and a quick ratio of 4.72. Sight Sciences has a 1-year low of $3.38 and a 1-year high of $10.31. The company has a market capitalization of $560.25 million, a price-to-earnings ratio of -19.38 and a beta of 2.44. The business has a 50-day moving average of $8.72 and a 200-day moving average of $6.09.

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

Insider Activity

In other news, CFO James Rodberg sold 7,208 shares of Sight Sciences stock in a transaction dated Friday, October 2nd. The stock was sold at an average price of $8.85, for a total transaction of $63,790.80. Following the sale, the chief financial officer directly owned 216,829 shares of the company’s stock, valued at approximately $1,918,936.65. The trade was a 3.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO David Badawi sold 7,797 shares of the business’s stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $9.05, for a total value of $70,562.85. Following the completion of the transaction, the chief technology officer owned 1,975,075 shares in the company, valued at approximately $17,874,428.75. This trade represents a 0.39% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 47,646 shares of company stock valued at $429,157. Corporate insiders own 30.40% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of SGHT. BlackRock Inc. acquired a new position in shares of Sight Sciences in the 2nd quarter valued at approximately $16,710,000. GSA Capital Partners LLP purchased a new position in shares of Sight Sciences during the 2nd quarter valued at approximately $908,000. Bank of America Corp DE purchased a new position in shares of Sight Sciences during the 2nd quarter valued at approximately $520,000. Bank of New York Mellon Corp acquired a new stake in shares of Sight Sciences during the second quarter worth approximately $495,000. Finally, SCS Capital Management LLC acquired a new stake in shares of Sight Sciences during the second quarter worth approximately $488,000. Hedge funds and other 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.