Stifel Nicolaus Lowers Sight Sciences (NASDAQ:SGHT) Price Target to $4.00

Sight Sciences (NASDAQ:SGHT - Get Free Report) had its target price cut by stock analysts at Stifel Nicolaus from $5.00 to $4.00 in a research report issued to clients and investors on Thursday, Marketbeat reports. The firm presently has a "buy" rating on the stock. Stifel Nicolaus' price target would indicate a potential upside of 63.27% from the company's current price.

SGHT has been the subject of a number of other research reports. Morgan Stanley lowered their target price on Sight Sciences from $7.00 to $5.00 and set an "equal weight" rating for the company in a research note on Monday, November 11th. Lake Street Capital dropped their price target 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. UBS Group lowered their target price on shares of Sight Sciences from $5.50 to $5.00 and set a "buy" rating for the company in a report on Monday, January 27th. Citigroup decreased their target price on shares of Sight Sciences from $4.60 to $3.00 and set a "neutral" rating for the company in a report on Tuesday, March 4th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Sight Sciences in a report on Thursday. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $3.83.

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Sight Sciences Price Performance

NASDAQ SGHT traded up $0.09 during trading hours on Thursday, hitting $2.45. The company had a trading volume of 679,174 shares, compared to its average volume of 271,457. The firm has a 50 day simple moving average of $2.88 and a 200 day simple moving average of $4.35. The firm has a market capitalization of $124.35 million, a price-to-earnings ratio of -2.40 and a beta of 2.52. Sight Sciences has a 52 week low of $2.17 and a 52 week high of $8.45. The company has a debt-to-equity ratio of 0.36, a quick ratio of 9.74 and a current ratio of 10.18.

Sight Sciences (NASDAQ:SGHT - Get Free Report) last released its quarterly earnings results on Wednesday, March 5th. The company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of ($0.22) by ($0.01). Sight Sciences had a negative net margin of 63.30% and a negative return on equity of 47.28%. The business had revenue of $19.07 million during the quarter, compared to analysts' expectations of $18.98 million. During the same period in the previous year, the business earned ($0.22) EPS. Equities research analysts expect that Sight Sciences will post -0.99 earnings per share for the current year.

Insider Buying and Selling

In other Sight Sciences news, CEO Paul Badawi sold 12,236 shares of the firm's stock in a transaction dated 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 directly owns 5,713,197 shares of the company's stock, valued at approximately $20,567,509.20. This trade represents a 0.21 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last quarter, insiders have sold 63,014 shares of company stock worth $197,295. 28.90% of the stock is owned by insiders.

Institutional Investors Weigh In On Sight Sciences

Several hedge funds and other institutional investors have recently made changes to their positions in the business. B. Riley Wealth Advisors Inc. grew its position in Sight Sciences by 24.6% during the fourth quarter. B. Riley Wealth Advisors Inc. now owns 243,082 shares of the company's stock valued at $885,000 after buying an additional 48,000 shares during the period. Squarepoint Ops LLC grew its position in shares of Sight Sciences by 314.2% during the 4th quarter. Squarepoint Ops LLC now owns 169,211 shares of the company's stock valued at $616,000 after acquiring an additional 128,355 shares during the period. ProShare Advisors LLC bought a new stake in shares of Sight Sciences during the 4th quarter valued at $36,000. Prosight Management LP increased its stake in shares of Sight Sciences by 71.1% in the 4th quarter. Prosight Management LP now owns 908,847 shares of the company's stock worth $3,308,000 after purchasing an additional 377,625 shares in the last quarter. Finally, Millennium Management LLC bought a new position in Sight Sciences in the 4th quarter worth $464,000. 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.