Sight Sciences (NASDAQ:SGHT) Raised to “Strong-Buy” at William Blair

Sight Sciences (NASDAQ:SGHT) was upgraded by equities research analysts at William Blair to a “strong-buy” rating in a report released on Friday,Zacks.com reports.

A number of other brokerages have also recently issued reports on SGHT. Citigroup increased their price objective on shares of Sight Sciences from $5.50 to $9.10 and gave the company a “neutral” rating in a research note on Thursday, December 11th. Morgan Stanley increased their price target on shares of Sight Sciences from $6.00 to $8.00 and gave the stock an “equal weight” rating in a research report on Tuesday, December 2nd. Piper Sandler set a $9.00 price objective on Sight Sciences in a report on Monday, January 5th. UBS Group upped their price objective on Sight Sciences from $7.00 to $12.00 and gave the company a “buy” rating in a research note on Tuesday, December 23rd. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Sight Sciences in a research report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $8.30.

Sight Sciences Stock Up 2.1%

Shares of Sight Sciences stock opened at $6.28 on Friday. Sight Sciences has a 52-week low of $2.03 and a 52-week high of $9.24. The company has a debt-to-equity ratio of 0.62, a current ratio of 9.60 and a quick ratio of 8.93. The firm has a market cap of $332.02 million, a price-to-earnings ratio of -6.98 and a beta of 2.42. The stock has a 50-day simple moving average of $7.66 and a 200-day simple moving average of $5.46.

Sight Sciences (NASDAQ:SGHT) last announced its quarterly earnings data on Thursday, November 6th. The company reported ($0.16) earnings per share for the quarter, topping the consensus estimate of ($0.26) by $0.10. The company had revenue of $19.91 million for the quarter, compared to analyst estimates of $17.74 million. Sight Sciences had a negative return on equity of 61.59% and a negative net margin of 60.63%. On average, equities research analysts expect that Sight Sciences will post -0.99 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Jeremy B. Hayden sold 6,308 shares of the stock in a transaction on Friday, January 16th. The stock was sold at an average price of $6.62, for a total transaction of $41,758.96. Following the sale, the insider owned 267,611 shares in the company, valued at approximately $1,771,584.82. This represents a 2.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO David Badawi sold 4,836 shares of the firm’s stock in a transaction on Friday, January 16th. The shares were sold at an average price of $6.62, for a total value of $32,014.32. Following the completion of the sale, the chief technology officer owned 1,912,273 shares of the company’s stock, valued at approximately $12,659,247.26. This trade represents a 0.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 162,214 shares of company stock worth $1,209,132. 30.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Sight Sciences

A number of hedge funds have recently added to or reduced their stakes in the stock. Long Focus Capital Management LLC raised its stake in shares of Sight Sciences by 1.3% in the third quarter. Long Focus Capital Management LLC now owns 3,193,305 shares of the company’s stock worth $10,985,000 after acquiring an additional 41,797 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Sight Sciences by 5.7% in the third quarter. Vanguard Group Inc. now owns 1,906,696 shares of the company’s stock valued at $6,559,000 after purchasing an additional 102,609 shares in the last quarter. Americana Partners LLC raised its position in Sight Sciences by 42.4% in the 3rd quarter. Americana Partners LLC now owns 1,229,819 shares of the company’s stock worth $4,231,000 after purchasing an additional 365,901 shares during the last quarter. B Group Inc. lifted its holdings in Sight Sciences by 11.6% during the 2nd quarter. B Group Inc. now owns 930,000 shares of the company’s stock worth $3,841,000 after buying an additional 96,400 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in Sight Sciences by 5.5% in the 2nd quarter. Geode Capital Management LLC now owns 845,776 shares of the company’s stock valued at $3,494,000 after buying an additional 43,791 shares during the last quarter. Institutional investors own 55.51% of the company’s stock.

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.