William Blair Lowers Sight Sciences (NASDAQ:SGHT) to Market Perform

William Blair downgraded shares of Sight Sciences (NASDAQ:SGHT) from an outperform rating to a market perform rating in a report released on Tuesday, MarketBeat.com reports. William Blair also issued estimates for Sight Sciences’ Q3 2023 earnings at ($0.28) EPS, Q4 2023 earnings at ($0.24) EPS, FY2023 earnings at ($1.17) EPS, Q1 2024 earnings at ($0.28) EPS, Q2 2024 earnings at ($0.22) EPS, Q3 2024 earnings at ($0.23) EPS, Q4 2024 earnings at ($0.18) EPS and FY2024 earnings at ($0.92) EPS.

SGHT has been the topic of a number of other research reports. Bank of America lowered their target price on Sight Sciences from $13.00 to $10.00 in a report on Tuesday, June 6th. Morgan Stanley lowered Sight Sciences from an overweight rating to an equal weight rating and decreased their price objective for the stock from $12.00 to $8.40 in a report on Thursday, August 24th. Citigroup decreased their price objective on Sight Sciences from $9.00 to $8.00 and set a neutral rating on the stock in a report on Monday, August 21st. Piper Sandler lowered Sight Sciences from an overweight rating to a neutral rating and decreased their price objective for the stock from $15.00 to $5.50 in a report on Monday. Finally, Stifel Nicolaus cut their target price on Sight Sciences from $15.00 to $13.00 in a research report on Monday, June 26th. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, Sight Sciences has an average rating of Hold and a consensus price target of $7.00.

Sight Sciences Stock Up 5.8 %

Shares of SGHT stock opened at $3.49 on Tuesday. The stock’s 50 day simple moving average is $7.21 and its 200 day simple moving average is $8.47. The company has a debt-to-equity ratio of 0.25, a current ratio of 12.97 and a quick ratio of 12.41. Sight Sciences has a twelve month low of $3.00 and a twelve month high of $15.30.

Sight Sciences (NASDAQ:SGHT) last issued its quarterly earnings data on Thursday, August 3rd. The company reported ($0.30) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.05. Sight Sciences had a negative return on equity of 46.11% and a negative net margin of 87.05%. The business had revenue of $23.47 million for the quarter, compared to the consensus estimate of $22.29 million. As a group, equities research analysts forecast that Sight Sciences will post -1.25 EPS for the current fiscal year.

Hedge Funds Weigh In On Sight Sciences

Institutional investors have recently bought and sold shares of the business. Swiss National Bank raised its position in shares of Sight Sciences by 7.3% during the first quarter. Swiss National Bank now owns 28,000 shares of the company’s stock worth $324,000 after acquiring an additional 1,900 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Sight Sciences by 84.8% during the first quarter. Bank of New York Mellon Corp now owns 54,512 shares of the company’s stock worth $630,000 after acquiring an additional 25,009 shares during the last quarter. MetLife Investment Management LLC bought a new stake in shares of Sight Sciences during the first quarter worth $166,000. Rhumbline Advisers bought a new stake in shares of Sight Sciences during the first quarter worth $205,000. Finally, BlackRock Inc. raised its position in shares of Sight Sciences by 77.2% during the first quarter. BlackRock Inc. now owns 1,163,672 shares of the company’s stock worth $13,453,000 after acquiring an additional 507,029 shares during the last quarter. Institutional investors own 50.71% of the company’s stock.

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. The company's products include OMNI Surgical System, a therapeutic device used by ophthalmic surgeons to reduce intraocular pressure in adult glaucoma patients; and TearCare System, a wearable eyelid technology for the treatment of dry eye disease (DED) for ophthalmologists and optometrists.