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

RxSight, Inc. (NASDAQ:RXST) has received an average recommendation of “Reduce” from the fifteen analysts that are covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $9.7778.

Several equities analysts recently weighed in on RXST shares. UBS Group increased their price target on shares of RxSight from $8.00 to $9.00 and gave the stock a “neutral” rating in a report on Thursday, February 26th. William Blair started coverage on shares of RxSight in a report on Friday, January 30th. They issued a “market perform” rating on the stock. Piper Sandler cut their price target on shares of RxSight from $11.00 to $10.00 and set a “neutral” rating on the stock in a report on Thursday, February 26th. Wolfe Research upgraded shares of RxSight to an “outperform” rating in a report on Friday, January 30th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $13.00 price target on shares of RxSight in a report on Thursday, February 26th.

Institutional Investors Weigh In On RxSight

Hedge funds have recently bought and sold shares of the stock. Raymond James Financial Inc. purchased a new stake in RxSight in the 2nd quarter worth approximately $28,000. Larson Financial Group LLC boosted its position in 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 in the last quarter. Caitong International Asset Management Co. Ltd boosted its position in RxSight by 440.7% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 3,758 shares of the company’s stock worth $39,000 after purchasing an additional 3,063 shares in the last quarter. CWM LLC boosted its position in RxSight by 211.1% in the 4th quarter. CWM LLC now owns 3,826 shares of the company’s stock worth $40,000 after purchasing an additional 2,596 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its position in RxSight by 156.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,574 shares of the company’s stock worth $72,000 after purchasing an additional 3,398 shares in the last quarter. Hedge funds and other institutional investors own 78.78% of the company’s stock.

RxSight Trading Up 3.1%

Shares of NASDAQ:RXST opened at $7.61 on Friday. RxSight has a twelve month low of $5.90 and a twelve month high of $16.74. The company’s 50 day moving average is $7.43 and its 200 day moving average is $9.02. The company has a market cap of $314.06 million, a PE ratio of -8.01 and a beta of 1.22.

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.