Sight Sciences (NASDAQ:SGHT) Stock Rating Reaffirmed by Piper Sandler

Piper Sandler reaffirmed their neutral rating on shares of Sight Sciences (NASDAQ:SGHT) in a report issued on Friday, Benzinga reports. Piper Sandler currently has a $6.00 price target on the stock, up from their prior price target of $5.00.

Separately, Needham & Company LLC restated a hold rating on shares of Sight Sciences in a research note on Friday. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of Hold and a consensus price target of $4.70.

Sight Sciences Price Performance

Shares of Sight Sciences stock opened at $5.82 on Friday. The company has a current ratio of 13.29, a quick ratio of 12.65 and a debt-to-equity ratio of 0.26. The company has a 50-day moving average of $5.11 and a 200 day moving average of $4.19. Sight Sciences has a 1 year low of $1.04 and a 1 year high of $10.97.

Sight Sciences (NASDAQ:SGHT) last released its quarterly earnings data on Thursday, March 7th. The company reported ($0.22) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.13. The business had revenue of $18.75 million during the quarter, compared to analyst estimates of $18.70 million. Sight Sciences had a negative net margin of 67.18% and a negative return on equity of 42.84%. During the same period last year, the business earned ($0.35) EPS. As a group, analysts anticipate that Sight Sciences will post -1.04 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Alison Bauerlein sold 10,123 shares of the firm’s stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $5.08, for a total value of $51,424.84. Following the transaction, the chief financial officer now owns 426,248 shares of the company’s stock, valued at $2,165,339.84. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Sight Sciences news, CEO Paul Badawi sold 12,571 shares of the firm’s stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $5.08, for a total transaction of $63,860.68. Following the sale, the chief executive officer now owns 5,750,729 shares in the company, valued at approximately $29,213,703.32. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Alison Bauerlein sold 10,123 shares of the firm’s stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $5.08, for a total transaction of $51,424.84. Following the sale, the chief financial officer now owns 426,248 shares in the company, valued at approximately $2,165,339.84. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 34,129 shares of company stock valued at $173,375. 27.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Sight Sciences

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. First Eagle Investment Management LLC raised its position in shares of Sight Sciences by 45.6% during the third quarter. First Eagle Investment Management LLC now owns 587,297 shares of the company’s stock valued at $1,979,000 after buying an additional 183,912 shares during the last quarter. Swiss National Bank raised its position in shares of Sight Sciences by 19.5% during the third quarter. Swiss National Bank now owns 69,314 shares of the company’s stock valued at $234,000 after buying an additional 11,300 shares during the last quarter. Boston Partners raised its position in shares of Sight Sciences by 3.1% during the third quarter. Boston Partners now owns 331,776 shares of the company’s stock valued at $1,117,000 after buying an additional 9,919 shares during the last quarter. Federated Hermes Inc. raised its position in shares of Sight Sciences by 100.0% during the third quarter. Federated Hermes Inc. now owns 60,000 shares of the company’s stock valued at $202,000 after buying an additional 30,000 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its position in shares of Sight Sciences by 180.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 12,076 shares of the company’s stock valued at $62,000 after buying an additional 7,764 shares during the last quarter. Institutional investors own 55.51% 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. 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.