UBS Group Lowers Sight Sciences (NASDAQ:SGHT) Price Target to $11.00

Sight Sciences (NASDAQ:SGHT) had its target price reduced by equities research analysts at UBS Group from $12.00 to $11.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. UBS Group’s price target indicates a potential upside of 196.50% from the company’s previous close.

A number of other research firms also recently commented on SGHT. Cantor Fitzgerald set a $8.00 target price on shares of Sight Sciences in a research report on Monday, March 2nd. Raymond James Financial set a $9.00 price target on shares of Sight Sciences in a research report on Monday, January 5th. Stifel Nicolaus upped their price objective on shares of Sight Sciences from $6.00 to $8.00 and gave the company a “buy” rating in a research note on Monday, March 2nd. Morgan Stanley raised their price objective on Sight Sciences from $6.00 to $8.00 and gave the stock an “equal weight” rating in a report on Tuesday, December 2nd. Finally, William Blair reaffirmed an “outperform” rating on shares of Sight Sciences in a report on Thursday. Five research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $8.31.

Sight Sciences Stock Performance

Shares of SGHT opened at $3.71 on Friday. The stock has a 50 day moving average price of $6.18 and a 200 day moving average price of $5.76. The company has a quick ratio of 8.93, a current ratio of 10.22 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $200.38 million, a price-to-earnings ratio of -4.95 and a beta of 2.43. Sight Sciences has a 52-week low of $2.03 and a 52-week high of $9.24.

Sight Sciences (NASDAQ:SGHT) last announced its quarterly earnings results on Wednesday, March 4th. The company reported ($0.08) EPS for the quarter, beating the consensus estimate of ($0.15) by $0.07. Sight Sciences had a negative net margin of 49.67% and a negative return on equity of 55.72%. The company had revenue of $20.39 million for the quarter, compared to analyst estimates of $20.35 million. Research analysts predict that Sight Sciences will post -0.99 EPS for the current fiscal year.

Insider Buying and Selling at Sight Sciences

In related news, CEO Paul Badawi sold 25,356 shares of the stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $7.43, for a total transaction of $188,395.08. Following the completion of the sale, the chief executive officer owned 5,937,146 shares in the company, valued at $44,112,994.78. This represents a 0.43% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO David Badawi sold 4,836 shares of the firm’s stock in a transaction on Friday, January 16th. The stock was sold at an average price of $6.62, for a total transaction of $32,014.32. Following the transaction, the chief technology officer directly owned 1,912,273 shares in the company, valued at $12,659,247.26. The trade was a 0.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 99,796 shares of company stock valued at $719,722. Insiders own 30.90% of the company’s stock.

Institutional Investors Weigh In On Sight Sciences

A number of institutional investors and hedge funds have recently made changes to their positions in the business. AQR Capital Management LLC acquired a new stake in shares of Sight Sciences during the first quarter worth about $128,000. Strs Ohio acquired a new position in Sight Sciences in the 1st quarter valued at about $158,000. Rhumbline Advisers raised its stake in Sight Sciences by 9.5% during the 1st quarter. Rhumbline Advisers now owns 49,797 shares of the company’s stock valued at $120,000 after acquiring an additional 4,319 shares during the last quarter. CWM LLC raised its stake in Sight Sciences by 70.2% during the 2nd quarter. CWM LLC now owns 7,607 shares of the company’s stock valued at $31,000 after acquiring an additional 3,137 shares during the last quarter. Finally, Bank of Montreal Can acquired a new stake in Sight Sciences during the 2nd quarter worth approximately $49,000. 55.51% of the stock is owned by hedge funds and other institutional investors.

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.