RxSight (NASDAQ:RXST) Stock Price Expected to Rise, UBS Group Analyst Says

RxSight (NASDAQ:RXST) had its target price lifted by research analysts at UBS Group from $5.50 to $6.30 in a report issued on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. UBS Group’s target price indicates a potential upside of 0.64% from the company’s current price.

Several other research firms have also issued reports on RXST. Wall Street Zen upgraded RxSight from a “strong sell” rating to a “sell” rating in a research report on Sunday, July 12th. Weiss Ratings cut RxSight from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, June 11th. Wells Fargo & Company lowered 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 report on Thursday, May 7th. Bank of America lowered their target price on RxSight from $8.00 to $6.50 and set an “underperform” rating for the company in a research note on Tuesday, July 7th. Finally, Jefferies Financial Group set a $6.50 target price on shares of RxSight in a report on Tuesday, July 7th. Two investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, RxSight currently has a consensus rating of “Reduce” and an average target price of $8.59.

RxSight Trading Up 3.0%

NASDAQ:RXST opened at $6.26 on Thursday. The firm has a 50 day moving average of $5.31 and a 200-day moving average of $6.64. RxSight has a 1 year low of $4.48 and a 1 year high of $13.22. The stock has a market capitalization of $259.16 million, a P/E ratio of -5.54 and a beta of 1.13.

RxSight (NASDAQ:RXST) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($0.29) EPS for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.04. The company had revenue of $33.74 million for the quarter, compared to analyst estimates of $32.55 million. RxSight had a negative return on equity of 17.35% and a negative net margin of 36.80%. As a group, analysts forecast that RxSight will post -1.41 EPS for the current fiscal year.

Institutional Trading of RxSight

Several large investors have recently modified their holdings of RXST. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in RxSight by 6.0% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,861 shares of the company’s stock worth $552,000 after acquiring an additional 1,232 shares during the period. Goldman Sachs Group Inc. boosted its stake in shares of RxSight by 57.9% during the first quarter. Goldman Sachs Group Inc. now owns 310,411 shares of the company’s stock valued at $7,838,000 after purchasing an additional 113,767 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of RxSight by 9.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 93,382 shares of the company’s stock valued at $2,358,000 after purchasing an additional 8,424 shares during the last quarter. Creative Planning purchased a new stake in RxSight during the 2nd quarter valued at about $207,000. Finally, Legal & General Group Plc increased its holdings in shares of RxSight by 5.0% during the 2nd quarter. Legal & General Group Plc now owns 44,574 shares of the company’s stock valued at $579,000 after purchasing an additional 2,121 shares in the last quarter. Institutional investors 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.