Sight Sciences, Inc. (NASDAQ:SGHT) Stock Has Consensus Price Target of $8.38

Key Points

• Analyst sentiment is moderately bullish: Eight brokerages give Sight Sciences a consensus “Moderate Buy” rating, with a $8.38 average 12-month price target. Ratings include five buys, two holds, and one sell.
• Sight Sciences recently exceeded quarterly expectations, reporting an adjusted loss of $0.08 per share versus the $0.18 consensus loss and revenue of $23.39 million versus estimates of $21.72 million.
• The stock opened at $8.89, near its 12-month high of $9.71, while insiders sold 47,646 shares worth about $429,000 during the quarter. Institutional investors own 55.51% of the company, including a new $16.7 million BlackRock position.

Shares of Sight Sciences, Inc. (NASDAQ:SGHT - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the eight brokerages that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $8.38.

Several brokerages recently issued reports on SGHT. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Sight Sciences in a research report on Friday, August 7th. UBS Group raised their price target on Sight Sciences from $7.00 to $8.00 and gave the stock a "buy" rating in a report on Thursday, August 6th. Citigroup boosted their price target on Sight Sciences from $8.00 to $10.00 and gave the stock a "neutral" rating in a research note on Monday, October 5th. Finally, Wall Street Zen upgraded Sight Sciences from a "hold" rating to a "buy" rating in a research note on Saturday, August 8th.

Sight Sciences Price Performance

NASDAQ SGHT opened at $8.89 on Monday. The firm's fifty day simple moving average is $8.20 and its two-hundred day simple moving average is $5.94. The firm has a market capitalization of $489.75 million, a P/E ratio of -15.88 and a beta of 2.45. The company has a current ratio of 4.95, a quick ratio of 4.67 and a debt-to-equity ratio of 0.58. Sight Sciences has a 12-month low of $3.19 and a 12-month high of $9.71.

Sight Sciences (NASDAQ:SGHT - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The company reported ($0.08) EPS for the quarter, beating the consensus estimate of ($0.18) by $0.10. The firm had revenue of $23.39 million during the quarter, compared to analyst estimates of $21.72 million. Sight Sciences had a negative return on equity of 43.39% and a negative net margin of 35.69%. Analysts forecast that Sight Sciences will post -0.52 EPS for the current fiscal year.

Insider Activity at Sight Sciences

In related news, EVP Brenton Taylor sold 2,988 shares of Sight Sciences stock in a transaction that occurred on Friday, October 2nd. The shares were sold at an average price of $8.85, for a total value of $26,443.80. Following the completion of the sale, the executive vice president directly owned 261,990 shares in the company, valued at $2,318,611.50. This trade represents a 1.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CTO David Badawi sold 7,797 shares of the business's stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $9.05, for a total transaction of $70,562.85. Following the sale, the chief technology officer directly owned 1,975,075 shares in the company, valued at approximately $17,874,428.75. This represents a 0.39% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 47,646 shares of company stock valued at $429,157. Company insiders own 30.40% of the company's stock.

Institutional Inflows and Outflows

A number of 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 $16,710,000. GSA Capital Partners LLP purchased a new position in Sight Sciences in the 2nd quarter worth $908,000. Bank of New York Mellon Corp purchased a new position in Sight Sciences in the 2nd quarter worth $495,000. Bank of America Corp DE acquired a new stake in Sight Sciences during the 2nd quarter worth about $520,000. Finally, SCS Capital Management LLC acquired a new stake in Sight Sciences during the 2nd quarter worth about $488,000. Institutional investors and hedge funds own 55.51% of the company's stock.

Sight Sciences Company Profile

Sight Sciences, Inc is a medical technology company focused on developing and commercializing treatments for ophthalmic diseases. The company designs devices intended to address underlying causes of conditions such as glaucoma and dry eye disease, with an emphasis on less invasive procedures that can be performed in clinical settings.

Its product portfolio includes the OMNI Surgical System, a device used in minimally invasive glaucoma surgery to perform canaloplasty and trabeculotomy procedures.

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