RxSight, Inc. (NASDAQ:RXST) Receives $8.89 Average Target Price from Analysts

RxSight, Inc. (NASDAQ:RXST) has been assigned an average rating of “Reduce” from the twelve ratings firms that are currently covering the firm, Marketbeat Ratings reports. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $8.8889.

Several equities analysts have recently issued reports on RXST shares. Bank of America dropped their price target on shares of RxSight from $8.00 to $6.50 and set an “underperform” rating for the company in a research note on Tuesday, July 7th. Needham & Company LLC reaffirmed a “buy” rating and set a $11.00 target price on shares of RxSight in a research report on Tuesday, July 7th. Wells Fargo & Company cut their target price on RxSight from $11.00 to $9.00 and set an “equal weight” rating on the stock in a report on Thursday, May 7th. Weiss Ratings lowered RxSight from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, June 11th. Finally, Jefferies Financial Group set a $6.50 price target on RxSight in a research report on Tuesday, July 7th.

Institutional Trading of RxSight

Several institutional investors have recently added to or reduced their stakes in the stock. Raymond James Financial Inc. acquired a new stake in RxSight during the 2nd quarter valued at approximately $28,000. Summit Securities Group LLC acquired a new position in shares of RxSight in the 1st quarter worth approximately $30,000. Larson Financial Group LLC lifted its position in shares of RxSight by 110.5% in the 3rd quarter. Larson Financial Group LLC now owns 3,979 shares of the company’s stock worth $36,000 after purchasing an additional 2,089 shares during the period. Caitong International Asset Management Co. Ltd boosted its stake in shares of RxSight by 440.7% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 3,758 shares of the company’s stock valued at $39,000 after purchasing an additional 3,063 shares during the last quarter. Finally, CWM LLC boosted its stake in shares of RxSight by 211.1% in the 4th quarter. CWM LLC now owns 3,826 shares of the company’s stock valued at $40,000 after purchasing an additional 2,596 shares during the last quarter. 78.78% of the stock is currently owned by institutional investors.

RxSight Price Performance

NASDAQ:RXST opened at $5.39 on Monday. The firm’s 50 day simple moving average is $5.29 and its 200 day simple moving average is $6.95. RxSight has a one year low of $4.48 and a one year high of $13.22. The company has a market cap of $223.15 million, a PE ratio of -4.77 and a beta of 1.15.

About RxSight

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.