Stifel lowered the firm’s price target on Sight Sciences (SGHT) to $5 from $11 and keeps a Buy rating on the shares following Sight Sciences’ recent pre-announcement of a “significant” Q3 miss and guidance cut. With summer MIGS volume trends “generally solid among our survey respondents,” the firm takes the view that Sight Sciences’ soft performance may have less to do LCD headwinds and are related more to “organic” Glaukos (GKOS) share gains, the firm tells investors after having surveyed 50 MIGS ophthalmologists.
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