Sight Sciences (NASDAQ:SGHT) Hits New 12-Month High Following Analyst Upgrade

Key Points

• Sight Sciences hit a 52-week high, trading at about $11.33 after UBS raised its price target from $8.00 to $13.50 and reiterated a Buy rating.
• Analyst sentiment is generally positive: five analysts rate the stock Buy, two Hold, and one Sell, with a consensus “Moderate Buy” rating and an average price target of $10.31.
• Quarterly revenue of $24.92 million exceeded estimates of $23.55 million, while the company’s loss of $0.12 per share matched expectations.

Shares of Sight Sciences, Inc. (NASDAQ:SGHT - Get Free Report) hit a new 52-week high on Thursday after UBS Group raised their price target on the stock from $8.00 to $13.50. UBS Group currently has a buy rating on the stock. Sight Sciences traded as high as $11.32 and last traded at $11.3340, with a volume of 104,735 shares traded. The stock had previously closed at $10.92.

Other equities research analysts also recently issued reports about the stock. Piper Sandler reissued an "overweight" rating and issued a $12.00 price target (up from $9.00) on shares of Sight Sciences in a research note on Thursday, November 5th. HC Wainwright initiated coverage on shares of Sight Sciences in a research report on Thursday, October 15th. They set a "buy" rating and a $14.00 price objective for the company. Wall Street Zen upgraded Sight Sciences from a "hold" rating to a "buy" rating in a research report on Saturday, August 8th. Citigroup lifted their price objective on Sight Sciences from $8.00 to $10.00 and gave the company a "neutral" rating in a research note on Monday, October 5th. Finally, Weiss Ratings reiterated a "sell (e+)" rating on shares of Sight Sciences in a report on Wednesday, November 4th. 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. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $10.31.

Insider Buying and Selling

In related news, CFO James Rodberg sold 7,208 shares of the business's stock in a transaction on Friday, October 2nd. The stock was sold at an average price of $8.85, for a total transaction of $63,790.80. Following the completion of the transaction, the chief financial officer directly owned 216,829 shares of the company's stock, valued at $1,918,936.65. The trade was a 3.22% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Brenton Taylor sold 2,988 shares of the company's stock in a transaction dated Friday, October 2nd. The stock was sold at an average price of $8.85, for a total value of $26,443.80. Following the sale, the executive vice president owned 261,990 shares in the company, valued at approximately $2,318,611.50. This trade represents a 1.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 47,646 shares of company stock valued at $429,157 in the last three months. 30.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Sight Sciences

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Ieq Capital LLC raised its holdings in Sight Sciences by 7.3% in the third quarter. Ieq Capital LLC now owns 26,635 shares of the company's stock valued at $249,000 after acquiring an additional 1,803 shares in the last quarter. Royce & Associates LP purchased a new position in Sight Sciences in the third quarter worth approximately $1,676,000. Diversified Trust Co grew its holdings in Sight Sciences by 27.3% during the 3rd quarter. Diversified Trust Co now owns 18,989 shares of the company's stock worth $178,000 after acquiring an additional 4,068 shares in the last quarter. R Squared Ltd grew its holdings in Sight Sciences by 20.7% during the 3rd quarter. R Squared Ltd now owns 19,759 shares of the company's stock worth $185,000 after acquiring an additional 3,388 shares in the last quarter. Finally, Hsbc Holdings PLC grew its holdings in Sight Sciences by 21.6% during the 2nd quarter. Hsbc Holdings PLC now owns 46,707 shares of the company's stock worth $255,000 after acquiring an additional 8,297 shares in the last quarter. 55.51% of the stock is owned by institutional investors and hedge funds.

Sight Sciences Stock Performance

The stock's 50-day simple moving average is $8.87 and its 200 day simple moving average is $6.16. The company has a debt-to-equity ratio of 0.71, a quick ratio of 4.72 and a current ratio of 5.04. The company has a market capitalization of $636.88 million, a PE ratio of -21.81 and a beta of 2.44.

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

Sight Sciences Company Profile

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.

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