Sight Sciences (NASDAQ:SGHT) Stock Price Expected to Rise, Stifel Nicolaus Analyst Says

Sight Sciences (NASDAQ:SGHT) had its target price increased by equities research analysts at Stifel Nicolaus from $6.00 to $8.00 in a report released on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Stifel Nicolaus’ target price would indicate a potential upside of 52.09% from the stock’s current price.

SGHT has been the subject of a number of other reports. Piper Sandler set a $9.00 target price on Sight Sciences in a research note on Monday, January 5th. William Blair raised Sight Sciences to a “strong-buy” rating in a report on Friday, January 30th. Weiss Ratings restated a “sell (e+)” rating on shares of Sight Sciences in a research report on Monday, December 29th. Raymond James Financial set a $9.00 price objective on Sight Sciences in a research note on Monday, January 5th. Finally, Morgan Stanley raised their target price on Sight Sciences from $6.00 to $8.00 and gave the company an “equal weight” rating in a research note on Tuesday, December 2nd. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Sight Sciences presently has an average rating of “Moderate Buy” and an average target price of $8.76.

Sight Sciences Trading Down 6.4%

Shares of SGHT opened at $5.26 on Monday. Sight Sciences has a one year low of $2.03 and a one year high of $9.24. The stock has a 50-day moving average price of $6.46 and a 200 day moving average price of $5.76. The company has a debt-to-equity ratio of 0.62, a quick ratio of 8.93 and a current ratio of 9.60. The company has a market capitalization of $278.10 million, a P/E ratio of -5.84 and a beta of 2.43.

Insiders Place Their Bets

In related news, CEO Paul Badawi sold 25,356 shares of Sight Sciences stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $7.43, for a total transaction of $188,395.08. Following the sale, the chief executive officer directly owned 5,937,146 shares in the company, valued at $44,112,994.78. The trade was a 0.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jeremy B. Hayden sold 9,385 shares of the company’s stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $7.82, for a total transaction of $73,390.70. Following the completion of the sale, the insider directly owned 247,205 shares of the company’s stock, valued at $1,933,143.10. The trade was a 3.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 99,796 shares of company stock worth $719,722. Insiders own 28.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. BNP Paribas Financial Markets increased its stake in shares of Sight Sciences by 99.8% during the third quarter. BNP Paribas Financial Markets now owns 7,579 shares of the company’s stock valued at $26,000 after acquiring an additional 3,785 shares during the period. CWM LLC boosted 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 purchasing an additional 3,137 shares in the last quarter. O Shaughnessy Asset Management LLC acquired a new position in shares of Sight Sciences during the 4th quarter valued at $81,000. AXQ Capital LP bought a new stake in shares of Sight Sciences in the 4th quarter worth $89,000. Finally, Tower Research Capital LLC TRC raised its stake in shares of Sight Sciences by 32.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 11,665 shares of the company’s stock worth $48,000 after buying an additional 2,875 shares in the last quarter. 55.51% of the stock is currently owned by institutional investors.

Sight Sciences Company Profile

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.