Sight Sciences, Inc. (NASDAQ:SGHT) Receives Consensus Recommendation of "Hold" from Analysts

Key Points

• Sight Sciences has a consensus analyst rating of "Hold" from nine covering firms, with five buys, three holds, and one sell. The average 12-month price target is about $8.31.
• The company recently reported Q1 earnings of -$0.24 per share, missing estimates, though revenue of $19.7 million came in above expectations. Analysts currently expect the company to post -0.6 EPS for the full fiscal year.
• Insider selling has been notable, including recent share sales by Jeremy B. Hayden and David Badawi; insiders sold 61,273 shares worth $221,764 over the past three months. Institutional investors still hold 55.51% of the stock.

Shares of Sight Sciences, Inc. (NASDAQ:SGHT - Get Free Report) have been assigned a consensus recommendation of "Hold" from the nine ratings firms that are covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and five have given a buy recommendation to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $8.3125.

SGHT has been the topic of a number of analyst reports. Stifel Nicolaus lifted their price objective on shares of Sight Sciences from $6.00 to $8.00 and gave the stock a "buy" rating in a report on Monday, March 2nd. Cantor Fitzgerald set a $8.00 target price on shares of Sight Sciences in a report on Monday, March 2nd. William Blair reissued an "outperform" rating on shares of Sight Sciences in a research report on Thursday, March 5th. UBS Group cut their price target on shares of Sight Sciences from $12.00 to $11.00 and set a "buy" rating on the stock in a report on Friday, March 6th. Finally, Citigroup decreased their price objective on shares of Sight Sciences from $9.10 to $6.50 and set a "neutral" rating for the company in a research note on Friday, March 6th.

Insiders Place Their Bets

In other news, insider Jeremy B. Hayden sold 13,761 shares of the company's stock in a transaction that occurred on Monday, April 6th. The stock was sold at an average price of $3.55, for a total value of $48,851.55. Following the completion of the transaction, the insider directly owned 369,770 shares of the company's stock, valued at $1,312,683.50. This represents a 3.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO David Badawi sold 8,168 shares of Sight Sciences stock in a transaction on Thursday, April 2nd. The stock was sold at an average price of $3.48, for a total value of $28,424.64. Following the sale, the chief technology officer owned 1,990,290 shares in the company, valued at $6,926,209.20. This trade represents a 0.41% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 61,273 shares of company stock valued at $221,764. Insiders own 30.90% of the company's stock.

Institutional Investors Weigh In On Sight Sciences

A number of hedge funds have recently made changes to their positions in the business. Americana Partners LLC grew its position in Sight Sciences by 42.4% during the third quarter. Americana Partners LLC now owns 1,229,819 shares of the company's stock valued at $4,231,000 after buying an additional 365,901 shares during the period. The Manufacturers Life Insurance Company bought a new stake in Sight Sciences in the fourth quarter worth about $96,000. XTX Topco Ltd purchased a new position in Sight Sciences in the second quarter valued at about $67,000. BNP Paribas Financial Markets boosted its stake in Sight Sciences by 99.8% in the third quarter. BNP Paribas Financial Markets now owns 7,579 shares of the company's stock valued at $26,000 after acquiring an additional 3,785 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of Sight Sciences by 13.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 341,681 shares of the company's stock valued at $1,288,000 after acquiring an additional 40,346 shares during the period. 55.51% of the stock is currently owned by institutional investors.

Sight Sciences Stock Up 6.1%

SGHT stock opened at $5.20 on Friday. Sight Sciences has a twelve month low of $3.11 and a twelve month high of $9.24. The company has a quick ratio of 5.48, a current ratio of 5.86 and a debt-to-equity ratio of 0.68. The stock's 50 day moving average is $4.06 and its 200-day moving average is $5.85. The firm has a market capitalization of $282.93 million, a PE ratio of -7.32 and a beta of 2.38.

Sight Sciences (NASDAQ:SGHT - Get Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.05). The company had revenue of $19.70 million for the quarter, compared to the consensus estimate of $18.47 million. Sight Sciences had a negative return on equity of 52.34% and a negative net margin of 46.83%. Sell-side analysts expect that Sight Sciences will post -0.6 EPS for the current fiscal year.

About Sight Sciences

Sight Sciences, Inc is a medical device company focused on developing and commercializing minimally invasive treatments for chronic eye diseases. The company's flagship products include the OMNI® Surgical System, designed to address multiple points of resistance in the eye's natural drainage pathways to lower intraocular pressure in glaucoma patients, and the TearCare® System, a wearable device for treating meibomian gland dysfunction and dry eye disease through targeted thermal pulsation therapy.

Since its founding in 2012 and subsequent listing on the NASDAQ under the ticker SGHT, Sight Sciences has pursued a strategy of combining research-driven product development with a direct sales force model.

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