Analysts Set RxSight, Inc. (NASDAQ:RXST) Target Price at $9.67

by · The Cerbat Gem

Shares of RxSight, Inc. (NASDAQ:RXST – Get Free Report) have earned an average recommendation of “Reduce” from the thirteen research firms that are currently covering the company, MarketBeat Ratings reports. Three investment analysts have rated the stock with a sell recommendation, nine have assigned a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $9.6667.

A number of research firms recently weighed in on RXST. JPMorgan Chase & Co. increased their price objective on shares of RxSight from $8.00 to $9.00 and gave the stock an “underweight” rating in a report on Thursday, November 6th. Morgan Stanley raised their price target on shares of RxSight from $9.00 to $10.00 and gave the company an “equal weight” rating in a research note on Tuesday, December 2nd. Zacks Research raised RxSight from a “strong sell” rating to a “hold” rating in a report on Monday, September 8th. Wells Fargo & Company increased their price objective on RxSight from $9.00 to $10.00 and gave the stock an “equal weight” rating in a report on Thursday, November 6th. Finally, Needham & Company LLC lifted their target price on RxSight from $11.00 to $12.00 and gave the company a “buy” rating in a research note on Thursday, November 6th.

Get Our Latest Analysis on RXST

RxSight Price Performance

NASDAQ:RXST opened at $10.38 on Thursday. RxSight has a 12-month low of $6.32 and a 12-month high of $37.13. The firm has a market capitalization of $426.83 million, a P/E ratio of -11.80 and a beta of 1.14. The business has a 50 day simple moving average of $10.72 and a 200 day simple moving average of $9.72.

RxSight (NASDAQ:RXST – Get Free Report) last issued its earnings results on Wednesday, November 5th. The company reported ($0.04) earnings per share for the quarter, topping the consensus estimate of ($0.19) by $0.15. The firm had revenue of $30.34 million for the quarter, compared to analyst estimates of $25.63 million. RxSight had a negative return on equity of 12.82% and a negative net margin of 25.15%.The firm’s revenue for the quarter was down 31.4% on a year-over-year basis. During the same period last year, the company earned ($0.16) earnings per share. Research analysts anticipate that RxSight will post -0.7 EPS for the current fiscal year.

Institutional Investors Weigh In On RxSight

Institutional investors have recently bought and sold shares of the stock. Russell Investments Group Ltd. raised its position in shares of RxSight by 161.2% during the 1st quarter. Russell Investments Group Ltd. now owns 4,091 shares of the company’s stock worth $103,000 after buying an additional 2,525 shares in the last quarter. Northern Trust Corp lifted its stake in shares of RxSight by 8.7% in the 1st quarter. Northern Trust Corp now owns 438,425 shares of the company’s stock worth $11,070,000 after acquiring an additional 35,021 shares during the period. Trexquant Investment LP boosted its holdings in shares of RxSight by 156.0% in the first quarter. Trexquant Investment LP now owns 144,405 shares of the company’s stock valued at $3,646,000 after acquiring an additional 87,989 shares in the last quarter. State of Wyoming increased its stake in shares of RxSight by 91.5% during the first quarter. State of Wyoming now owns 2,062 shares of the company’s stock valued at $52,000 after acquiring an additional 985 shares during the period. Finally, Graham Capital Management L.P. bought a new stake in RxSight during the first quarter worth approximately $717,000. Institutional investors and hedge funds own 78.78% of the company’s stock.

RxSight Company Profile

(Get Free Report)

RxSight, Inc is a medical technology company focused on the development and commercialization of advanced intraocular lens (IOL) systems for patients undergoing cataract surgery and lens replacement procedures. The company’s flagship product, the Light Adjustable Lens (LAL), is designed to provide customized vision correction by allowing non‐invasive post‐operative adjustments. Using ultraviolet light, surgeons can fine‐tune the lens power after implantation to achieve optimal visual outcomes, reducing reliance on glasses or contact lenses and enhancing patient satisfaction.

Founded in 2011 and headquartered in Aliso Viejo, California, RxSight has pursued regulatory clearances and market access across multiple regions.

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