Sight Sciences (NASDAQ: SGHT) is overweighted at Morgan Stanley
Vision Sciences (NASDAQ: SGHT) was upgraded by analysts at Morgan Stanley to an “overweight” rating in a report released Friday, Target equity advisor reports. The brokerage currently has a target price of $ 27.00 on the stock, down from its previous target price of $ 36.00. Morgan Stanley’s price target points to a potential rise of 67.08% from the current share price.
Separately, Zacks investment research downgraded Sight Sciences from a âbuyâ rating to a âkeepâ rating in a report released on Saturday, November 13. One investment analyst rated the stock with a conservation rating and four issued a buy rating for the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of âBuyâ and a consensus target price of $ 37.60.
NASDAQ: SGHT opened for $ 16.16 on Friday. Sight Sciences has a one-year minimum of $ 15.26 and a one-year maximum of $ 42.57. The company has a fifty-day moving average price of $ 20.58. The company has a current ratio of 27.91, a quick ratio of 27.62 and a debt ratio of 0.13.
Sight Sciences (NASDAQ: SGHT) last released its quarterly results on Wednesday, November 10. The company reported ($ 0.43) earnings per share (EPS) for the quarter, missing Zacks’ consensus estimate of ($ 0.38) from ($ 0.05). The company posted revenue of $ 13.10 million for the quarter, compared to the consensus estimate of $ 12.25 million. Research analysts predict that Sight Sciences will show -3.26 EPS for the current year.
In other Sight Sciences news, CFO Jesse Selnick acquired 10,000 shares of the company in a transaction dated Tuesday, November 23. The stock was purchased at an average price of $ 18.44 per share, for a total transaction of $ 184,400.00. The transaction was disclosed in a file with the SEC, which can be accessed through this link. Also, director Staffan Encrantz purchased 214,606 shares of the company in a transaction dated Wednesday, December 1. The shares were purchased at an average price of $ 22.40 per share, for a total transaction of $ 4,807,174.40. Disclosure of this purchase can be found here. During the last quarter, insiders bought 838,108 shares of the company valued at $ 19,270,384.
A number of hedge funds and other institutional investors have recently increased or reduced their stakes in the company. Advisor Group Holdings Inc. purchased a new stake in Sight Sciences shares in the third quarter valued at approximately $ 45,000. Royal Bank of Canada purchased a new stake in Sight Sciences in the third quarter valued at $ 54,000. Morgan Stanley acquired a new position in Sight Sciences during the third quarter valued at $ 69,000. Citigroup Inc. purchased a new position in Sight Sciences shares during the third quarter valued at $ 72,000. Finally, Metropolitan Life Insurance Co NY acquired a new stake in Sight Sciences shares in the 3rd quarter for a value of $ 81,000. 17.50% of the shares are currently held by institutional investors.
About eye science
Sight Sciences Inc is a medical device company. He has focused on the development and commercialization of proprietary devices that target the underlying causes of common eye diseases. Sight Sciences Inc is based in MENLO PARK, California.
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