UBS Group Lowers Sight Sciences (NASDAQ:SGHT) Price Target to $5.00

Sight Sciences (NASDAQ:SGHT) had its target price lowered by UBS Group from $5.50 to $5.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. UBS Group’s target price suggests a potential upside of 70.07% from the company’s previous close.

Several other equities analysts also recently weighed in on the company. Lake Street Capital cut their target price on Sight Sciences from $5.00 to $3.00 and set a “hold” rating on the stock in a research report on Wednesday, January 15th. Needham & Company LLC reiterated a “hold” rating on shares of Sight Sciences in a research report on Tuesday, January 14th. Piper Sandler restated a “neutral” rating and issued a $5.50 target price (down previously from $6.00) on shares of Sight Sciences in a report on Friday, November 8th. Morgan Stanley cut their price target on shares of Sight Sciences from $7.00 to $5.00 and set an “equal weight” rating on the stock in a report on Monday, November 11th. Finally, Citigroup reduced their price objective on shares of Sight Sciences from $5.80 to $4.60 and set a “neutral” rating on the stock in a research report on Wednesday, December 11th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $4.62.

Sight Sciences Price Performance

NASDAQ SGHT traded up $0.01 on Monday, reaching $2.94. The company had a trading volume of 30,379 shares, compared to its average volume of 256,305. The stock has a market capitalization of $149.22 million, a PE ratio of -2.89 and a beta of 2.57. Sight Sciences has a 12 month low of $2.67 and a 12 month high of $8.45. The company has a quick ratio of 9.74, a current ratio of 10.18 and a debt-to-equity ratio of 0.36. The firm’s 50 day moving average price is $3.53 and its 200 day moving average price is $5.28.

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

Insiders Place Their Bets

In related news, CEO Paul Badawi sold 24,819 shares of the stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $2.92, for a total value of $72,471.48. Following the completion of the transaction, the chief executive officer now directly owns 5,676,331 shares of the company’s stock, valued at $16,574,886.52. This trade represents a 0.44 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last three months, insiders have bought 15,000 shares of company stock valued at $58,232 and have 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 added to or reduced their stakes in the company. Arkadios Wealth Advisors purchased a new stake in shares of Sight Sciences in the 4th quarter valued at $47,000. SG Americas Securities LLC lifted its position in Sight Sciences by 47.6% during the fourth quarter. SG Americas Securities LLC now owns 17,622 shares of the company’s stock valued at $64,000 after purchasing an additional 5,681 shares during the period. The Manufacturers Life Insurance Company acquired a new stake in Sight Sciences during the 2nd quarter worth about $95,000. GSA Capital Partners LLP purchased a new position in shares of Sight Sciences during the 3rd quarter valued at about $136,000. Finally, American Century Companies Inc. lifted its holdings in shares of Sight Sciences by 31.1% in the 2nd quarter. American Century Companies Inc. now owns 35,948 shares of the company’s stock valued at $240,000 after buying an additional 8,527 shares during the period. Hedge funds and other 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.