As previously reported, BofA analyst Craig Bijou downgraded Sight Sciences to Underperform from Neutral with a price target of $4.50, down from $10, after the company guided Q3 revenue 18% below Street consensus at the midpoint as the uncertainty from proposed Medicare coverage changes for surgical glaucoma products has hurt ordering activity. The firm sees limited upside potential for the stock until there is clarity on the finalized local coverage determination, or LCD, the analyst tells investors.
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