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

RxSight (NASDAQ:RXST) had its target price increased by JPMorgan Chase & Co. from $8.00 to $9.00 in a research report released on Thursday morning,Benzinga reports. The brokerage currently has an underweight rating on the stock.

RXST has been the subject of a number of other reports. Needham & Company LLC increased their price objective on shares of RxSight from $11.00 to $12.00 and gave the company a “buy” rating in a report on Thursday. Jefferies Financial Group reissued a “hold” rating and set a $9.00 price objective (down previously from $24.00) on shares of RxSight in a report on Thursday, July 10th. Bank of America decreased 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. Piper Sandler cut their price target on RxSight from $18.00 to $10.00 and set a “neutral” rating for the company in a report on Wednesday, July 9th. Finally, BTIG Research reaffirmed a “neutral” rating on shares of RxSight in a research note on Wednesday, July 9th. One equities research analyst has rated the stock with a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Reduce” and an average target price of $9.56.

RxSight Stock Up 8.8%

RXST stock traded up $0.76 during trading on Thursday, reaching $9.37. The company’s stock had a trading volume of 1,008,319 shares, compared to its average volume of 990,873. The company’s fifty day moving average is $8.78 and its 200-day moving average is $10.81. The company has a market capitalization of $383.42 million, a P/E ratio of -10.65 and a beta of 1.16. RxSight has a 1 year low of $6.32 and a 1 year high of $49.25.

RxSight (NASDAQ:RXST) last announced its quarterly earnings data on Wednesday, November 5th. The company reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.19) by $0.15. RxSight had a negative return on equity of 12.78% and a negative net margin of 25.15%.The business had revenue of $30.34 million for the quarter, compared to the consensus estimate of $25.63 million. During the same period in the previous year, the business earned ($0.16) earnings per share. The business’s revenue was down 31.4% on a year-over-year basis. RxSight has set its FY 2025 guidance at EPS. Analysts anticipate that RxSight will post -0.7 earnings per share for the current year.

Hedge Funds Weigh In On RxSight

Institutional investors and hedge funds have recently modified their holdings of the stock. GSA Capital Partners LLP increased its position in shares of RxSight by 7.0% during the 3rd quarter. GSA Capital Partners LLP now owns 72,515 shares of the company’s stock valued at $652,000 after purchasing an additional 4,743 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in RxSight by 201.3% during the third quarter. JPMorgan Chase & Co. now owns 102,882 shares of the company’s stock worth $925,000 after buying an additional 68,735 shares during the period. Caprock Group LLC bought a new position in RxSight during the third quarter valued at $171,000. Tempus Wealth Planning LLC raised its stake in shares of RxSight by 81.2% in the third quarter. Tempus Wealth Planning LLC now owns 40,887 shares of the company’s stock valued at $368,000 after acquiring an additional 18,322 shares during the period. Finally, AlphaQuest LLC lifted its holdings in shares of RxSight by 342.5% in the 3rd quarter. AlphaQuest LLC now owns 38,087 shares of the company’s stock worth $342,000 after acquiring an additional 29,479 shares during the last quarter. Hedge funds and other institutional investors own 78.78% of the company’s stock.

RxSight Company Profile

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.