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Sight Sciences price target raised to $4 from $3.50 at Piper Sandler

Piper Sandler analyst Matt O’Brien raised the firm’s price target on Sight Sciences (SGHT) to $4 from $3.50 and keeps a Neutral rating on the shares. The firm notes shares of Sight Sciences have seen some recovery year-to-date, up +10.7% after a challenging 2024 campaign. Piper likes the company’s MIGS technology and views the company’s dry eye asset as an intriguing product in a large end-market, but it wrestles with uncertainty in the glaucoma business, namely the late ’24 LCD reimbursement change and potential trialing of a recent competitor product launch. Further, Piper suspects Sight Sciences will need to access the capital markets in the next 1-2 years, and it thinks it will take dry eye at least several quarters to find its stride with the change in commercial/reimbursement strategy.

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