Sight Sciences (NASDAQ:SGHT – Get Free Report) had its price target decreased by equities research analysts at Morgan Stanley from $15.00 to $12.00 in a research report issued on Friday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Morgan Stanley’s price target would indicate a potential upside of 39.21% from the company’s current price.
Other research analysts have also recently issued research reports about the company. Citigroup cut Sight Sciences from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $15.00 to $9.00 in a research report on Monday, July 10th. Stifel Nicolaus cut their price objective on Sight Sciences from $15.00 to $13.00 in a research note on Monday, June 26th. Finally, Bank of America dropped their price target on Sight Sciences from $13.00 to $10.00 in a research note on Tuesday, June 6th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $11.80.
Sight Sciences Trading Up 7.2 %
Shares of NASDAQ:SGHT traded up $0.58 during mid-day trading on Friday, reaching $8.62. The stock had a trading volume of 86,213 shares, compared to its average volume of 119,979. The firm has a 50 day simple moving average of $8.18 and a two-hundred day simple moving average of $9.58. Sight Sciences has a twelve month low of $5.35 and a twelve month high of $15.30. The company has a current ratio of 12.79, a quick ratio of 12.32 and a debt-to-equity ratio of 0.23. The firm has a market cap of $417.73 million, a PE ratio of -5.19 and a beta of 1.09.
Sight Sciences (NASDAQ:SGHT – Get Free Report) last announced its quarterly earnings results on Thursday, May 4th. The company reported ($0.35) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.41) by $0.06. Sight Sciences had a negative return on equity of 47.71% and a negative net margin of 106.34%. The business had revenue of $18.82 million during the quarter, compared to the consensus estimate of $18.99 million. On average, research analysts predict that Sight Sciences will post -1.25 EPS for the current fiscal year.
Institutional Trading of Sight Sciences
Several hedge funds and other institutional investors have recently bought and sold shares of SGHT. Apollo Management Holdings L.P. purchased a new stake in shares of Sight Sciences in the first quarter worth $5,869,000. First Republic Investment Management Inc. purchased a new stake in shares of Sight Sciences in the second quarter worth $4,961,000. JPMorgan Chase & Co. grew its stake in shares of Sight Sciences by 4,555.6% in the fourth quarter. JPMorgan Chase & Co. now owns 540,566 shares of the company’s stock worth $6,600,000 after acquiring an additional 528,955 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Sight Sciences by 92.9% in the first quarter. Vanguard Group Inc. now owns 1,082,725 shares of the company’s stock worth $12,517,000 after acquiring an additional 521,412 shares during the last quarter. Finally, BlackRock Inc. grew its stake in shares of Sight Sciences by 77.2% in 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 50.31% of the company’s stock.
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.