Sight Sciences (NASDAQ:SGHT) Stock Price Expected to Rise, Morgan Stanley Analyst Says

Sight Sciences (NASDAQ:SGHT - Get Free Report) had its target price hoisted by Morgan Stanley from $3.00 to $4.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an "equal weight" rating on the stock. Morgan Stanley's price target would suggest a potential upside of 14.29% from the company's current price.

A number of other research analysts have also weighed in on the stock. Needham & Company LLC reissued a "hold" rating on shares of Sight Sciences in a research report on Wednesday, April 9th. Citigroup reissued a "neutral" rating and set a $3.60 price target (up from $3.20) on shares of Sight Sciences in a research report on Thursday, May 22nd. Wall Street Zen raised shares of Sight Sciences from a "sell" rating to a "hold" rating in a research report on Saturday, June 28th. Piper Sandler reissued a "neutral" rating and set a $4.00 price target (up from $3.50) on shares of Sight Sciences in a research report on Wednesday, June 18th. Finally, Lake Street Capital raised their price target on shares of Sight Sciences from $2.50 to $3.00 and gave the company a "hold" rating in a research report on Friday, May 9th. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $3.93.

Sight Sciences Stock Down 1.1%

NASDAQ:SGHT traded down $0.04 during trading hours on Tuesday, reaching $3.50. The company had a trading volume of 80,708 shares, compared to its average volume of 206,799. The company has a quick ratio of 9.99, a current ratio of 10.47 and a debt-to-equity ratio of 0.51. The firm has a market cap of $180.95 million, a price-to-earnings ratio of -3.57 and a beta of 2.47. The business's 50-day simple moving average is $3.79 and its two-hundred day simple moving average is $3.14. Sight Sciences has a twelve month low of $2.03 and a twelve month high of $8.45.

Sight Sciences (NASDAQ:SGHT - Get Free Report) last released 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 firm had revenue of $17.51 million for the quarter, compared to analyst estimates of $16.51 million. On average, equities analysts expect that Sight Sciences will post -0.99 earnings per share for the current year.

Insider Activity

In related news, CEO Paul Badawi sold 23,637 shares of the business's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $4.15, for a total value of $98,093.55. Following the sale, the chief executive officer owned 5,986,943 shares in the company, valued at approximately $24,845,813.45. The trade was a 0.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jeremy B. Hayden sold 9,160 shares of the business's stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $4.17, for a total transaction of $38,197.20. Following the completion of the sale, the insider owned 266,321 shares in the company, valued at $1,110,558.57. This represents a 3.33% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 43,365 shares of company stock worth $180,017 in the last 90 days. Company insiders own 30.90% of the company's stock.

Institutional Trading of Sight Sciences

A number of large investors have recently made changes to their positions in SGHT. Rhumbline Advisers raised its holdings in Sight Sciences by 9.5% in the first 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. boosted its position in Sight Sciences by 10.7% in the 4th quarter. American Century Companies Inc. now owns 51,564 shares of the company's stock worth $188,000 after purchasing an additional 4,964 shares in the last quarter. Wells Fargo & Company MN boosted its position in Sight Sciences by 53.4% in the 4th quarter. Wells Fargo & Company MN now owns 16,600 shares of the company's stock worth $60,000 after purchasing 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 buying an additional 5,994 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in Sight Sciences by 2.1% in the 4th quarter. Northern Trust Corp now owns 332,491 shares of the company's stock valued at $1,210,000 after purchasing an additional 6,727 shares in the last quarter. 55.51% of the stock is owned by hedge funds and other institutional investors.

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.