Sight Sciences (NASDAQ:SGHT) Price Target Raised to $13.50

Key Points

• UBS raised Sight Sciences’ price target to $13.50 from $8.00 and maintained a Buy rating, implying about 20% upside from the stock’s then-current price.
• Analyst sentiment is broadly positive: MarketBeat reported a “Moderate Buy” consensus, with five Buy, two Hold, and one Sell rating and an average target of $10.31.
• In its latest quarter, Sight Sciences reported revenue of $24.92 million, above the $23.55 million analyst estimate, while its loss of $0.12 per share matched expectations.

Sight Sciences (NASDAQ:SGHT - Get Free Report) had its price objective increased by stock analysts at UBS Group from $8.00 to $13.50 in a research note issued to investors on Thursday, Benzinga reports. The firm presently has a "buy" rating on the stock. UBS Group's price objective would suggest a potential upside of 19.95% from the stock's current price.

Other research analysts also recently issued research reports about the stock. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Sight Sciences in a report on Wednesday, November 4th. Wall Street Zen raised Sight Sciences from a "hold" rating to a "buy" rating in a research note on Saturday, August 8th. Piper Sandler restated an "overweight" rating and set a $12.00 price target (up from $9.00) on shares of Sight Sciences in a report on Thursday, November 5th. HC Wainwright initiated coverage on shares of Sight Sciences in a research note on Thursday, October 15th. They issued a "buy" rating and a $14.00 target price on the stock. Finally, Citigroup raised their target price on shares of Sight Sciences from $8.00 to $10.00 and gave the stock a "neutral" rating in a report on Monday, October 5th. Five research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $10.31.

Sight Sciences Price Performance

NASDAQ SGHT traded up $0.34 during trading on Thursday, hitting $11.26. 102,315 shares of the stock traded hands, compared to its average volume of 283,846. The company has a quick ratio of 4.72, a current ratio of 5.04 and a debt-to-equity ratio of 0.71. Sight Sciences has a 12-month low of $3.38 and a 12-month high of $11.32. The firm has a 50-day simple moving average of $8.87 and a 200-day simple moving average of $6.16. The company has a market capitalization of $625.54 million, a P/E ratio of -21.68 and a beta of 2.44.

Sight Sciences (NASDAQ:SGHT - Get Free Report) last posted its earnings results on Wednesday, November 4th. The company reported ($0.12) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.12). Sight Sciences had a negative net margin of 32.13% and a negative return on equity of 43.91%. The firm had revenue of $24.92 million during the quarter, compared to analyst estimates of $23.55 million. As a group, analysts predict that Sight Sciences will post -0.48 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Brenton Taylor sold 2,988 shares of Sight Sciences stock in a transaction on Friday, October 2nd. The stock was sold at an average price of $8.85, for a total transaction of $26,443.80. Following the completion of the sale, the executive vice president directly owned 261,990 shares in the company, valued at approximately $2,318,611.50. This trade represents a 1.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Paul Badawi sold 29,653 shares of the business's stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $9.05, for a total transaction of $268,359.65. Following the sale, the chief executive officer directly owned 6,092,819 shares of the company's stock, valued at $55,140,011.95. This represents a 0.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 47,646 shares of company stock worth $429,157. 30.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Sight Sciences

Large investors have recently added to or reduced their stakes in the stock. Conquis Financial LLC purchased a new position in shares of Sight Sciences during the second quarter worth approximately $27,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Sight Sciences in the second quarter valued at approximately $60,000. Diversified Trust Co boosted its holdings in shares of Sight Sciences by 27.3% in the third quarter. Diversified Trust Co now owns 18,989 shares of the company's stock valued at $178,000 after purchasing an additional 4,068 shares during the period. R Squared Ltd boosted its holdings in shares of Sight Sciences by 20.7% in the third quarter. R Squared Ltd now owns 19,759 shares of the company's stock valued at $185,000 after purchasing an additional 3,388 shares during the period. Finally, Ieq Capital LLC bought a new position in Sight Sciences in the second quarter worth approximately $135,000. 55.51% of the stock is owned by hedge funds and other institutional investors.

About Sight Sciences

Sight Sciences is a medical technology company that develops and commercializes devices for ophthalmic care, with a focus on glaucoma and dry eye disease. Its products are designed to support minimally invasive procedures and address underlying causes of these conditions. The company's portfolio includes the OMNI Surgical System, used in procedures to reduce eye pressure in patients with glaucoma, and TearCare, a device-based treatment for evaporative dry eye associated with meibomian gland dysfunction.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.