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Piper Sandler raised its price target on Sight Sciences stock (NASDAQ:SGHT) to $4.00 from $3.50 on Wednesday, while maintaining a Neutral rating on the medical device company. According to InvestingPro data, the company maintains a strong financial position with a current ratio of 10.47x and holds more cash than debt on its balance sheet.
The research firm cited the company’s MIGS (minimally invasive glaucoma surgery) technology and its dry eye treatment pipeline as positive factors. Sight Sciences shares have recovered 10.7% year-to-date, outperforming the S&P 500’s 1.7% gain during the same period.
Despite the price target increase, Piper Sandler expressed concerns about uncertainty in the company’s glaucoma business, specifically pointing to the late 2024 LCD reimbursement change and potential competition from a recent product launch by a competitor.
The firm also noted that Sight Sciences will likely need to access capital markets within the next one to two years, and its dry eye treatment may require several quarters to gain traction following changes in commercial and reimbursement strategy.
Piper Sandler acknowledged that Sight Sciences’ current valuation "is not particularly demanding" but opted to maintain its Neutral stance while implementing the modest price target increase.
In other recent news, Sight Sciences, Inc. reported its first-quarter 2025 earnings, revealing a net loss per share of $0.28, which was below the expected $0.23. The company’s revenue for the quarter was $17.5 million, falling short of the forecasted $18.4 million. Despite these setbacks, the company reaffirmed its full-year revenue guidance between $70 million and $75 million. Concurrently, Sight Sciences announced the appointment of Gerhard F. Burbach to its Board of Directors and the ratification of Deloitte & Touche LLP as its independent registered public accounting firm for the fiscal year ending December 31, 2025. Needham maintained a Hold rating on the company, expressing optimism about the company’s quarterly performance despite the challenges posed by tariffs. The company is actively working to mitigate these tariff impacts by transitioning its manufacturing operations out of China over the next nine months. Additionally, Sight Sciences is seeing increased volumes in its TearCare system, indicating positive market acceptance.
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