Lake Street Capital Lowers Sight Sciences (NASDAQ:SGHT) Price Target to $2.50

Sight Sciences (NASDAQ:SGHT) had its price target lowered by investment analysts at Lake Street Capital from $3.00 to $2.50 in a report issued on Thursday,Benzinga reports. The brokerage currently has a “hold” rating on the stock. Lake Street Capital’s price objective suggests a potential upside of 5.93% from the stock’s current price.

Other research analysts have also recently issued reports about the stock. UBS Group decreased their price objective on shares of Sight Sciences from $5.50 to $5.00 and set a “buy” rating for the company in a report on Monday, January 27th. Stifel Nicolaus reduced their price target on shares of Sight Sciences from $5.00 to $4.00 and set a “buy” rating for the company in a research report on Thursday. Piper Sandler reduced their price target on shares of Sight Sciences from $5.50 to $3.50 and set a “neutral” rating for the company in a research report on Thursday. Needham & Company LLC restated a “hold” rating on shares of Sight Sciences in a research report on Thursday. Finally, Morgan Stanley reduced their price target on shares of Sight Sciences from $7.00 to $5.00 and set an “equal weight” rating for the company in a research report on Monday, November 11th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $3.83.

Sight Sciences Price Performance

NASDAQ SGHT opened at $2.36 on Thursday. Sight Sciences has a 52 week low of $2.17 and a 52 week high of $8.45. The company has a current ratio of 10.18, a quick ratio of 9.74 and a debt-to-equity ratio of 0.36. The stock has a market cap of $119.78 million, a price-to-earnings ratio of -2.31 and a beta of 2.52. The company has a 50-day moving average price of $2.92 and a two-hundred day moving average price of $4.43.

Sight Sciences (NASDAQ:SGHT) last posted its earnings results on Wednesday, March 5th. The company reported ($0.23) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.01). Sight Sciences had a negative return on equity of 47.28% and a negative net margin of 63.30%. The firm had revenue of $19.07 million during the quarter, compared to the consensus estimate of $18.98 million. During the same quarter last year, the company posted ($0.22) EPS. Analysts forecast that Sight Sciences will post -0.99 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Paul Badawi sold 24,819 shares of the stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $2.92, for a total transaction of $72,471.48. Following the transaction, the chief executive officer now owns 5,676,331 shares in the company, valued at $16,574,886.52. This represents a 0.44 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold a total of 63,014 shares of company stock worth $197,295 in the last quarter. 28.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of SGHT. GSA Capital Partners LLP acquired a new position in shares of Sight Sciences during the 3rd quarter worth $136,000. Millrace Asset Group Inc. acquired a new position in Sight Sciences in the 3rd quarter valued at $874,000. Jacobs Levy Equity Management Inc. grew its stake in Sight Sciences by 46.3% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 207,893 shares of the company’s stock valued at $1,310,000 after buying an additional 65,767 shares during the last quarter. State Street Corp grew its stake in Sight Sciences by 17.4% in the 3rd quarter. State Street Corp now owns 646,776 shares of the company’s stock valued at $4,075,000 after buying an additional 95,843 shares during the last quarter. Finally, Barclays PLC grew its stake in Sight Sciences by 317.4% in the 3rd quarter. Barclays PLC now owns 50,300 shares of the company’s stock valued at $317,000 after buying an additional 38,248 shares during the last quarter. Institutional investors and hedge funds own 55.51% 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. 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.