RxSight (NASDAQ:RXST) Given New $10.00 Price Target at Wells Fargo & Company

RxSight (NASDAQ:RXST) had its price objective upped by Wells Fargo & Company from $9.00 to $10.00 in a report released on Thursday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

Other analysts have also recently issued reports about the stock. Piper Sandler lowered their target price on shares of RxSight from $18.00 to $10.00 and set a “neutral” rating for the company in a research note on Wednesday, July 9th. BTIG Research reaffirmed a “neutral” rating on shares of RxSight in a research report on Wednesday, July 9th. Bank of America reduced their target price on RxSight from $18.00 to $9.00 and set an “underperform” rating on the stock in a research report on Wednesday, July 9th. Morgan Stanley cut RxSight from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $20.00 to $9.00 in a report on Tuesday, July 15th. Finally, UBS Group cut their price objective on shares of RxSight from $16.00 to $8.00 and set a “neutral” rating on the stock in a report on Friday, August 8th. One analyst has rated the stock with a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Reduce” and an average price target of $9.56.

RxSight Price Performance

NASDAQ:RXST traded up $0.76 on Thursday, reaching $9.37. The stock had a trading volume of 1,008,319 shares, compared to its average volume of 990,873. RxSight has a 12-month low of $6.32 and a 12-month high of $49.25. The company has a market cap of $383.42 million, a price-to-earnings ratio of -10.65 and a beta of 1.16. The firm’s fifty day moving average is $8.78 and its two-hundred day moving average is $10.81.

RxSight (NASDAQ:RXST) last issued its quarterly earnings results on Wednesday, November 5th. The company reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.15. The business had revenue of $30.34 million during the quarter, compared to the consensus estimate of $25.63 million. RxSight had a negative net margin of 25.15% and a negative return on equity of 12.78%. The company’s quarterly revenue was down 31.4% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.16) earnings per share. RxSight has set its FY 2025 guidance at EPS. As a group, research analysts forecast that RxSight will post -0.7 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Raymond James Financial Inc. acquired a new stake in shares of RxSight in the second quarter worth $28,000. Bessemer Group Inc. acquired a new position in shares of RxSight during the 2nd quarter valued at $33,000. State of Wyoming boosted its position in RxSight by 91.5% during the 1st quarter. State of Wyoming now owns 2,062 shares of the company’s stock worth $52,000 after purchasing an additional 985 shares during the period. CWM LLC boosted its position in RxSight by 614.1% during the 2nd quarter. CWM LLC now owns 4,520 shares of the company’s stock worth $59,000 after purchasing an additional 3,887 shares during the period. Finally, Tower Research Capital LLC TRC increased its holdings in RxSight by 156.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,574 shares of the company’s stock valued at $72,000 after purchasing an additional 3,398 shares in the last quarter. 78.78% of the stock is owned by institutional investors and hedge funds.

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.