Sight Sciences, Inc. (NASDAQ:SGHT) Receives $4.42 Consensus Price Target from Analysts

Key Points

• Sight Sciences, Inc. has received a consensus analyst rating of "Hold", with four analysts advising to hold and three giving a buy rating, while the average price target is set at $4.4167.
• The company's stock has been volatile, trading down 1.1% and currently sitting at $3.69, with a 52-week range between $2.03 and $7.03.
• Despite reporting a loss, Sight Sciences outperformed expectations with a revenue of $19.56 million for the quarter, exceeding analyst forecasts of $18.18 million.

Shares of Sight Sciences, Inc. (NASDAQ:SGHT - Get Free Report) have been given a consensus recommendation of "Hold" by the seven analysts that are covering the firm, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $4.4167.

SGHT has been the topic of a number of research analyst reports. Lake Street Capital raised shares of Sight Sciences from a "hold" rating to a "buy" rating and increased their price objective for the stock from $3.00 to $5.00 in a report on Friday, August 8th. Piper Sandler reiterated a "neutral" rating and set a $4.00 target price (up from $3.50) on shares of Sight Sciences in a research report on Wednesday, June 18th. Citigroup increased their price target on shares of Sight Sciences from $3.60 to $4.50 and gave the company a "neutral" rating in a research note on Thursday, August 21st. Needham & Company LLC restated a "hold" rating on shares of Sight Sciences in a research report on Thursday, August 28th. Finally, Morgan Stanley increased their price objective on Sight Sciences from $3.00 to $4.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 15th.

Sight Sciences Price Performance

NASDAQ SGHT traded up $0.21 during trading hours on Friday, reaching $3.62. 125,855 shares of the company's stock were exchanged, compared to its average volume of 103,801. The firm has a fifty day moving average of $3.77 and a 200-day moving average of $3.37. Sight Sciences has a one year low of $2.03 and a one year high of $7.03. The stock has a market cap of $189.58 million, a PE ratio of -3.77 and a beta of 2.46. The company has a current ratio of 10.01, a quick ratio of 9.49 and a debt-to-equity ratio of 0.57.

Sight Sciences (NASDAQ:SGHT - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported ($0.23) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.25) by $0.02. The firm had revenue of $19.56 million during the quarter, compared to the consensus estimate of $18.18 million. Sight Sciences had a negative return on equity of 59.38% and a negative net margin of 64.23%. Sight Sciences has set its FY 2025 guidance at EPS. On average, equities research analysts predict that Sight Sciences will post -0.99 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Paul Badawi sold 23,637 shares of Sight Sciences stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $4.15, for a total value of $98,093.55. Following the completion of the sale, the chief executive officer directly owned 5,986,943 shares in the company, valued at $24,845,813.45. This trade represents a 0.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jeremy B. Hayden sold 9,160 shares of the business's stock in a transaction dated Thursday, July 3rd. The stock was sold at an average price of $4.17, for a total value of $38,197.20. Following the sale, the insider directly owned 266,321 shares of the company's stock, valued at $1,110,558.57. This represents a 3.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 43,365 shares of company stock worth $180,017. 30.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On Sight Sciences

Large investors have recently bought and sold shares of the business. Tower Research Capital LLC TRC boosted its stake in Sight Sciences by 32.7% in the second quarter. Tower Research Capital LLC TRC now owns 11,665 shares of the company's stock valued at $48,000 after acquiring an additional 2,875 shares during the last quarter. Jane Street Group LLC acquired a new position in shares of Sight Sciences in the 2nd quarter valued at $148,000. B Group Inc. boosted its position in shares of Sight Sciences by 11.6% in the 2nd quarter. B Group Inc. now owns 930,000 shares of the company's stock worth $3,841,000 after purchasing an additional 96,400 shares during the last quarter. Panagora Asset Management Inc. acquired a new stake in shares of Sight Sciences during the second quarter worth $132,000. Finally, XTX Topco Ltd acquired a new stake in shares of Sight Sciences during the second quarter worth $67,000. 55.51% of the stock is currently owned by institutional investors and hedge funds.

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.