Piper Sandler Raises Sight Sciences (NASDAQ:SGHT) Price Target to $4.00

Sight Sciences (NASDAQ:SGHT - Get Free Report) had its target price hoisted by investment analysts at Piper Sandler from $3.50 to $4.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has a "neutral" rating on the stock. Piper Sandler's price objective points to a potential downside of 2.75% from the company's current price.

A number of other research analysts have also recently weighed in on SGHT. Needham & Company LLC reaffirmed a "hold" rating on shares of Sight Sciences in a research report on Wednesday, April 9th. Lake Street Capital increased their price target on Sight Sciences from $2.50 to $3.00 and gave the company a "hold" rating in a report on Friday, May 9th. Citigroup reissued a "neutral" rating and issued a $3.60 price objective (up from $3.20) on shares of Sight Sciences in a research report on Thursday, May 22nd. Finally, Stifel Nicolaus reduced their price objective on Sight Sciences from $5.00 to $4.00 and set a "buy" rating on the stock in a research note on Thursday, March 6th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $4.10.

Sight Sciences Price Performance

Sight Sciences stock traded up $0.08 during mid-day trading on Wednesday, hitting $4.11. 13,694 shares of the company were exchanged, compared to its average volume of 215,483. Sight Sciences has a 12-month low of $2.03 and a 12-month high of $8.45. The company has a market capitalization of $212.64 million, a P/E ratio of -4.19 and a beta of 2.46. The business's 50 day simple moving average is $3.31 and its two-hundred day simple moving average is $3.10. The company has a debt-to-equity ratio of 0.51, a current ratio of 10.47 and a quick ratio of 9.99.

Sight Sciences (NASDAQ:SGHT - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported ($0.28) earnings per share for the quarter, beating analysts' consensus estimates of ($0.29) by $0.01. Sight Sciences had a negative net margin of 63.24% and a negative return on equity of 54.62%. The business had revenue of $17.51 million during the quarter, compared to analyst estimates of $16.51 million. Analysts forecast that Sight Sciences will post -0.99 earnings per share for the current fiscal year.

Insider Activity

In other Sight Sciences news, CEO Paul Badawi sold 24,174 shares of Sight Sciences stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $2.30, for a total transaction of $55,600.20. Following the sale, the chief executive officer now owns 6,010,580 shares of the company's stock, valued at $13,824,334. The trade was a 0.40% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last quarter, insiders sold 35,196 shares of company stock valued at $81,001. 28.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in SGHT. Rhumbline Advisers raised its holdings in shares of Sight Sciences by 9.5% in the 1st quarter. Rhumbline Advisers now owns 49,797 shares of the company's stock worth $120,000 after purchasing an additional 4,319 shares in the last quarter. American Century Companies Inc. increased its holdings in shares of Sight Sciences by 10.7% in the fourth quarter. American Century Companies Inc. now owns 51,564 shares of the company's stock valued at $188,000 after buying an additional 4,964 shares in the last quarter. Wells Fargo & Company MN increased its holdings in shares of Sight Sciences by 53.4% in the fourth quarter. Wells Fargo & Company MN now owns 16,600 shares of the company's stock valued at $60,000 after buying an additional 5,781 shares in the last quarter. Barclays PLC lifted its position in shares of Sight Sciences by 11.9% during the 4th quarter. Barclays PLC now owns 56,294 shares of the company's stock valued at $205,000 after acquiring an additional 5,994 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in shares of Sight Sciences by 2.1% during the 4th quarter. Northern Trust Corp now owns 332,491 shares of the company's stock worth $1,210,000 after acquiring an additional 6,727 shares in the last quarter. Institutional investors and hedge funds own 55.51% of the company's stock.

About Sight Sciences

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.

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