RxSight, Inc. (NASDAQ:RXST) Receives $9.78 Consensus Price Target from Analysts

RxSight, Inc. (NASDAQ:RXST) has earned a consensus recommendation of “Reduce” from the fifteen analysts that are presently covering the company, MarketBeat reports. Three analysts have rated the stock with a sell recommendation, ten have given a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $9.7778.

A number of research analysts have issued reports on RXST shares. Wolfe Research upgraded shares of RxSight to an “outperform” rating in a research report on Friday, January 30th. Stifel Nicolaus set a $10.00 price target on shares of RxSight in a research note on Thursday, November 6th. Morgan Stanley increased their price objective on shares of RxSight from $9.00 to $10.00 and gave the company an “equal weight” rating in a report on Tuesday, December 2nd. William Blair began coverage on shares of RxSight in a research note on Friday, January 30th. They issued a “market perform” rating on the stock. Finally, JPMorgan Chase & Co. lifted their target price on shares of RxSight from $8.00 to $9.00 and gave the stock an “underweight” rating in a report on Thursday, November 6th.

Institutional Investors Weigh In On RxSight

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RXST. Brown Capital Management LLC raised its position in shares of RxSight by 18.2% during the second quarter. Brown Capital Management LLC now owns 1,119,240 shares of the company’s stock worth $14,550,000 after purchasing an additional 171,952 shares during the period. Y Intercept Hong Kong Ltd acquired a new position in shares of RxSight in the 2nd quarter valued at approximately $1,431,000. Baillie Gifford & Co. increased its stake in 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 purchasing an additional 217,371 shares in the last quarter. Squarepoint Ops LLC increased its stake in RxSight by 138.6% during the 2nd quarter. Squarepoint Ops LLC now owns 374,663 shares of the company’s stock worth $4,871,000 after purchasing an additional 217,608 shares in the last quarter. Finally, AXQ Capital LP acquired a new stake in RxSight during the 2nd quarter worth approximately $405,000. Institutional investors own 78.78% of the company’s stock.

RxSight Stock Up 2.7%

RXST stock opened at $8.63 on Friday. RxSight has a twelve month low of $6.32 and a twelve month high of $30.86. The company has a market cap of $354.87 million, a P/E ratio of -9.81 and a beta of 1.14. The business has a fifty day moving average of $9.76 and a 200-day moving average of $9.48.

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.