RxSight, Inc. (NASDAQ:RXST) Receives $9.78 Average Target Price from Brokerages

RxSight, Inc. (NASDAQ:RXST) has earned an average rating of “Reduce” from the fifteen brokerages that are currently covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation, ten have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $9.4444.

A number of analysts recently commented on RXST shares. Wolfe Research upgraded RxSight to an “outperform” rating in a research report on Friday, January 30th. Needham & Company LLC reduced their target price on shares of RxSight from $13.00 to $11.00 and set a “buy” rating on the stock in a report on Thursday. Wells Fargo & Company decreased their price target on shares of RxSight from $11.00 to $9.00 and set an “equal weight” rating on the stock in a research note on Thursday. Stifel Nicolaus lowered their price target on shares of RxSight from $10.00 to $9.00 and set a “hold” rating for the company in a report on Monday, March 9th. Finally, UBS Group upped their price objective on shares of RxSight from $8.00 to $9.00 and gave the company a “neutral” rating in a research note on Thursday, February 26th.

RxSight Stock Performance

Shares of NASDAQ:RXST opened at $5.85 on Wednesday. The business’s fifty day moving average price is $7.11 and its two-hundred day moving average price is $8.93. The stock has a market cap of $242.19 million, a PE ratio of -5.18 and a beta of 1.24. RxSight has a one year low of $5.30 and a one year high of $16.74.

Institutional Investors Weigh In On RxSight

Several hedge funds have recently made changes to their positions in RXST. Baillie Gifford & Co. lifted its holdings in shares of RxSight by 46.4% during the 3rd quarter. Baillie Gifford & Co. now owns 686,316 shares of the company’s stock worth $6,170,000 after acquiring an additional 217,371 shares during the period. Meridiem Capital Partners LP purchased a new stake in RxSight in the third quarter valued at approximately $1,564,000. Quantbot Technologies LP increased its position in RxSight by 168.7% during the third quarter. Quantbot Technologies LP now owns 146,248 shares of the company’s stock worth $1,315,000 after purchasing an additional 91,815 shares during the last quarter. Sugar Maple Asset Management LLC acquired a new position in RxSight during the fourth quarter worth approximately $249,000. Finally, FourThought Financial Partners LLC purchased a new position in RxSight during the third quarter worth approximately $212,000. Institutional investors and hedge funds own 78.78% of the company’s stock.

RxSight Company Profile

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.