Morgan Stanley Lowers Sight Sciences (NASDAQ:SGHT) Price Target to $5.00

Sight Sciences (NASDAQ:SGHT) had its price target lowered by Morgan Stanley from $7.00 to $5.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

Several other research firms also recently weighed in on SGHT. Needham & Company LLC reissued a “hold” rating on shares of Sight Sciences in a research report on Friday, November 8th. Lake Street Capital lowered shares of Sight Sciences from a “buy” rating to a “hold” rating and dropped their price objective for the company from $10.00 to $5.00 in a report on Monday, November 4th. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $5.50 price target (down previously from $6.00) on shares of Sight Sciences in a research report on Friday, November 8th. Five equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $5.50.

Sight Sciences Stock Performance

Shares of SGHT stock opened at $3.98 on Monday. Sight Sciences has a 12-month low of $1.80 and a 12-month high of $8.45. The business’s fifty day simple moving average is $5.80 and its 200-day simple moving average is $6.22. The company has a current ratio of 10.18, a quick ratio of 10.50 and a debt-to-equity ratio of 0.36. The company has a market cap of $202.02 million, a PE ratio of -3.90 and a beta of 2.74.

Sight Sciences (NASDAQ:SGHT) last announced its earnings results on Thursday, November 7th. The company reported ($0.22) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.23) by $0.01. The company had revenue of $20.16 million for the quarter, compared to analyst estimates of $20.41 million. Sight Sciences had a negative return on equity of 47.28% and a negative net margin of 63.30%. Analysts expect that Sight Sciences will post -1.01 earnings per share for the current fiscal year.

Insider Activity at Sight Sciences

In other Sight Sciences news, insider Jeremy B. Hayden sold 4,878 shares of Sight Sciences stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $6.08, for a total transaction of $29,658.24. Following the completion of the transaction, the insider now owns 158,687 shares in the company, valued at approximately $964,816.96. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, insider Matthew Link sold 21,831 shares of the stock in a transaction on Monday, October 21st. The shares were sold at an average price of $5.61, for a total transaction of $122,471.91. Following the sale, the insider now directly owns 663,550 shares of the company’s stock, valued at approximately $3,722,515.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Jeremy B. Hayden sold 4,878 shares of Sight Sciences stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $6.08, for a total transaction of $29,658.24. Following the completion of the transaction, the insider now directly owns 158,687 shares of the company’s stock, valued at $964,816.96. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 97,357 shares of company stock worth $574,666 over the last three months. Company insiders own 28.90% of the company’s stock.

Institutional Investors Weigh In On Sight Sciences

Several hedge funds have recently modified their holdings of the company. Steele Capital Management Inc. purchased a new position in Sight Sciences during the second quarter worth approximately $67,000. State Board of Administration of Florida Retirement System purchased a new position in shares of Sight Sciences during the 1st quarter valued at approximately $59,000. SG Americas Securities LLC acquired a new stake in Sight Sciences in the 3rd quarter valued at $75,000. The Manufacturers Life Insurance Company purchased a new stake in Sight Sciences in the 2nd quarter worth $95,000. Finally, GSA Capital Partners LLP acquired a new position in Sight Sciences during the third quarter worth $136,000. 55.51% of the stock is owned by hedge funds and other institutional investors.

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. 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.