Sight Sciences (NASDAQ:SGHT) Price Target Cut to $4.00 by Analysts at Morgan Stanley

Sight Sciences (NASDAQ:SGHT) had its target price reduced by Morgan Stanley from $8.40 to $4.00 in a report issued on Wednesday, Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

Several other research analysts have also commented on the company. Piper Sandler lowered Sight Sciences from an overweight rating to a neutral rating and reduced their price target for the stock from $15.00 to $5.50 in a report on Monday, September 11th. Stifel Nicolaus reduced their price objective on shares of Sight Sciences from $15.00 to $13.00 in a report on Monday, June 26th. Citigroup reduced their price objective on shares of Sight Sciences from $9.00 to $8.00 and set a neutral rating on the stock in a report on Monday, August 21st. Bank of America lowered shares of Sight Sciences from a neutral rating to an underperform rating and reduced their price objective for the company from $10.00 to $4.50 in a report on Tuesday, September 12th. Finally, William Blair lowered shares of Sight Sciences from an outperform rating to a market perform rating in a report on Tuesday, September 12th. One analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of Hold and a consensus price target of $6.20.

Sight Sciences Trading Down 1.1 %

Shares of SGHT stock opened at $3.45 on Wednesday. The stock’s fifty day moving average is $7.11 and its two-hundred day moving average is $8.40. The company has a debt-to-equity ratio of 0.25, a quick ratio of 12.41 and a current ratio of 12.97. The firm has a market capitalization of $167.84 million, a P/E ratio of -2.36 and a beta of 1.15. Sight Sciences has a fifty-two week low of $3.00 and a fifty-two week high of $15.30.

Sight Sciences (NASDAQ:SGHT) last announced 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. The company had revenue of $23.47 million for the quarter, compared to analyst estimates of $22.29 million. Sight Sciences had a negative return on equity of 46.11% and a negative net margin of 87.05%. Research analysts expect that Sight Sciences will post -1.22 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sight Sciences

Several institutional investors have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. grew its position in Sight Sciences by 0.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 185,096 shares of the company’s stock valued at $1,618,000 after acquiring an additional 1,627 shares in the last quarter. Swiss National Bank grew 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 buying an additional 1,900 shares in the last quarter. Mine & Arao Wealth Creation & Management LLC. grew its position in shares of Sight Sciences by 60.3% during the second quarter. Mine & Arao Wealth Creation & Management LLC. now owns 6,068 shares of the company’s stock worth $50,000 after buying an additional 2,283 shares in the last quarter. Huntington National Bank acquired a new position in shares of Sight Sciences during the fourth quarter worth about $31,000. Finally, Wells Fargo & Company MN grew its position in shares of Sight Sciences by 30.6% during the second quarter. Wells Fargo & Company MN now owns 11,899 shares of the company’s stock worth $99,000 after buying an additional 2,788 shares in the last quarter. 50.71% of the stock is owned by institutional investors and hedge funds.

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. 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.