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

Sight Sciences (NASDAQ:SGHT) had its price objective upped by Morgan Stanley from $3.00 to $4.00 in a report released on Tuesday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s price objective would indicate a potential upside of 13.96% from the stock’s current price.

Several other research analysts have also issued reports on SGHT. Lake Street Capital increased their target price on Sight Sciences from $2.50 to $3.00 and gave the stock a “hold” rating in a research report on Friday, May 9th. Needham & Company LLC reissued a “hold” rating on shares of Sight Sciences in a research report on Wednesday, April 9th. Citigroup restated a “neutral” rating and set a $3.60 target price (up previously from $3.20) on shares of Sight Sciences in a report on Thursday, May 22nd. Piper Sandler reiterated a “neutral” rating and issued a $4.00 price target (up from $3.50) on shares of Sight Sciences in a research note on Wednesday, June 18th. Finally, Wall Street Zen raised shares of Sight Sciences from a “sell” rating to a “hold” rating in a research report on Saturday, June 28th. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $3.93.

Sight Sciences Stock Performance

NASDAQ:SGHT opened at $3.51 on Tuesday. 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’s fifty day simple moving average is $3.78 and its 200 day simple moving average is $3.14. The stock has a market cap of $181.47 million, a P/E ratio of -3.58 and a beta of 2.47. Sight Sciences has a twelve month low of $2.03 and a twelve month high of $8.45.

Sight Sciences (NASDAQ:SGHT) last announced its earnings results 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. As a group, research analysts predict that Sight Sciences will post -0.99 EPS for the current year.

Insider Buying and Selling at Sight Sciences

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

Hedge Funds Weigh In On Sight Sciences

Hedge funds have recently added to or reduced their stakes in the company. Palumbo Wealth Management LLC bought a new stake in shares of Sight Sciences in the 2nd quarter worth $328,000. KCK LTD. purchased a new stake in shares of Sight Sciences during the second quarter valued at $18,069,000. Rhumbline Advisers increased its holdings in 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 buying an additional 4,319 shares in the last quarter. Strs Ohio purchased a new position in Sight Sciences in the 1st quarter worth about $158,000. Finally, Acadian Asset Management LLC lifted its stake in Sight Sciences by 127.7% during the 1st quarter. Acadian Asset Management LLC now owns 432,541 shares of the company’s stock valued at $1,033,000 after acquiring an additional 242,559 shares during the period. 55.51% of the stock is currently owned by hedge funds and other institutional investors.

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.