Sight Sciences (NASDAQ:SGHT) Raised to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Sight Sciences (NASDAQ:SGHT) from a hold rating to a buy rating in a research report report published on Wednesday, Zacks.com reports. They currently have $18.00 target price on the stock.

According to Zacks, “Sight Sciences Inc. is a medical device company. It focused on the development and commercialization of proprietary devises which target the underlying causes of prevalent eye diseases. Sight Sciences Inc. is based in MENLO PARK, Calif. “

Separately, Morgan Stanley upgraded shares of Sight Sciences from an equal weight rating to an overweight rating and decreased their price target for the company from $36.00 to $27.00 in a report on Friday, January 7th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of Buy and a consensus target price of $36.00.

SGHT stock opened at $15.88 on Wednesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 27.91 and a quick ratio of 27.62. Sight Sciences has a one year low of $15.16 and a one year high of $42.57. The stock has a 50 day moving average price of $19.43.

Sight Sciences (NASDAQ:SGHT) last released its earnings results on Wednesday, November 10th. The company reported ($0.43) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.38) by ($0.05). The business had revenue of $13.10 million for the quarter, compared to analysts’ expectations of $12.25 million. As a group, sell-side analysts expect that Sight Sciences will post -3.25 EPS for the current year.

In other Sight Sciences news, Director Staffan Encrantz bought 527,048 shares of Sight Sciences stock in a transaction that occurred on Monday, October 18th. The shares were acquired at an average price of $24.00 per share, for a total transaction of $12,649,152.00. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Jesse Selnick bought 10,000 shares of Sight Sciences stock in a transaction that occurred on Tuesday, November 23rd. The shares were acquired at an average price of $18.44 per share, for a total transaction of $184,400.00. The disclosure for this purchase can be found here. Insiders have purchased a total of 838,108 shares of company stock worth $19,270,384 in the last 90 days.

Institutional investors have recently added to or reduced their stakes in the stock. Advisor Group Holdings Inc. purchased a new stake in Sight Sciences during the 3rd quarter worth $45,000. Royal Bank of Canada purchased a new stake in Sight Sciences during the 3rd quarter worth $54,000. Morgan Stanley purchased a new stake in Sight Sciences during the 3rd quarter worth $69,000. Citigroup Inc. purchased a new stake in Sight Sciences during the 3rd quarter worth $72,000. Finally, Metropolitan Life Insurance Co NY purchased a new stake in Sight Sciences during the 3rd quarter worth $81,000. 49.01% of the stock is currently owned by hedge funds and other institutional investors.

About Sight Sciences

Sight Sciences Inc is a medical device company. It focused on the development and commercialization of proprietary devises which target the underlying causes of prevalent eye diseases. Sight Sciences Inc is based in MENLO PARK, Calif.

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