JPMorgan Chase & Co. Issues Positive Forecast for RxSight (NASDAQ:RXST) Stock Price

RxSight (NASDAQ:RXST) had its price objective raised by research analysts at JPMorgan Chase & Co. from $8.00 to $9.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has an “underweight” rating on the stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 4.53% from the company’s previous close.

Several other analysts also recently issued reports on RXST. Zacks Research raised RxSight from a “strong sell” rating to a “hold” rating in a report on Monday, September 8th. UBS Group cut their target price on RxSight from $16.00 to $8.00 and set a “neutral” rating on the stock in a research note on Friday, August 8th. Bank of America cut their target price on RxSight from $18.00 to $9.00 and set an “underperform” rating on the stock in a research note on Wednesday, July 9th. Piper Sandler cut their target price on RxSight from $18.00 to $10.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 9th. 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. One analyst has rated the stock with a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus price target of $9.56.

RxSight Price Performance

Shares of NASDAQ RXST traded up $0.27 during mid-day trading on Thursday, hitting $8.61. The company had a trading volume of 1,770,506 shares, compared to its average volume of 990,790. The stock has a market cap of $352.32 million, a price-to-earnings ratio of -10.76 and a beta of 1.16. RxSight has a 12 month low of $6.32 and a 12 month high of $55.57. The firm’s 50 day simple moving average is $8.79 and its two-hundred day simple moving average is $10.82.

RxSight (NASDAQ:RXST) last announced its quarterly earnings results on Wednesday, November 5th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.19) by $0.15. The business had revenue of $30.34 million for the quarter, compared to the consensus estimate of $25.63 million. RxSight had a negative return on equity of 11.56% and a negative net margin of 21.93%.The business’s revenue was down 31.4% on a year-over-year basis. During the same quarter last year, the business posted ($0.16) EPS. RxSight has set its FY 2025 guidance at EPS. Equities analysts forecast that RxSight will post -0.7 earnings per share for the current year.

Institutional Trading of RxSight

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Bank of New York Mellon Corp raised its stake in shares of RxSight by 0.8% in the 1st quarter. Bank of New York Mellon Corp now owns 103,659 shares of the company’s stock worth $2,617,000 after buying an additional 777 shares in the last quarter. Petrus Trust Company LTA grew its holdings in shares of RxSight by 5.0% in the 1st quarter. Petrus Trust Company LTA now owns 19,651 shares of the company’s stock worth $496,000 after acquiring an additional 938 shares during the last quarter. State of Wyoming grew its holdings in shares of RxSight by 91.5% in the 1st quarter. State of Wyoming now owns 2,062 shares of the company’s stock worth $52,000 after acquiring an additional 985 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of RxSight by 6.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,861 shares of the company’s stock worth $552,000 after acquiring an additional 1,232 shares during the last quarter. Finally, Legal & General Group Plc grew its holdings in shares of RxSight by 5.0% in the 2nd quarter. Legal & General Group Plc now owns 44,574 shares of the company’s stock worth $579,000 after acquiring an additional 2,121 shares during the last quarter. Institutional investors own 78.78% of the company’s stock.

About RxSight

RxSight, Inc, a commercial-stage medical device company, engages in the research and development, manufacture, and sale of light adjustable intraocular lenses (LAL) used in cataract surgery in the United States and internationally. It offers RxSight system that enables doctors to customize and enhance the visual acuity for patients after cataract surgery.