UBS Group Boosts RxSight (NASDAQ:RXST) Price Target to $9.00

RxSight (NASDAQ:RXST) had its price target increased by equities research analysts at UBS Group from $8.00 to $9.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. UBS Group’s price target would suggest a potential upside of 20.32% from the stock’s current price.

A number of other research firms also recently issued reports on RXST. Morgan Stanley raised their price target on RxSight from $9.00 to $10.00 and gave the stock an “equal weight” rating in a research note on Tuesday, December 2nd. Wells Fargo & Company increased their price objective on RxSight from $9.00 to $10.00 and gave the company an “equal weight” rating in a report on Thursday, November 6th. JPMorgan Chase & Co. raised their target price on shares of RxSight from $8.00 to $9.00 and gave the stock an “underweight” rating in a research report on Thursday, November 6th. Needham & Company LLC reaffirmed a “buy” rating and issued a $13.00 target price on shares of RxSight in a report on Thursday. Finally, Wolfe Research upgraded shares of RxSight to an “outperform” rating in a research report on Friday, January 30th. Two equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus target price of $9.89.

RxSight Stock Performance

Shares of RXST stock opened at $7.48 on Thursday. The stock’s 50-day moving average is $9.35 and its two-hundred day moving average is $9.49. RxSight has a 1 year low of $6.32 and a 1 year high of $29.00. The firm has a market cap of $308.70 million, a price-to-earnings ratio of -7.87 and a beta of 1.14.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Brown Capital Management LLC lifted its holdings 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 RxSight in the 2nd quarter valued at $1,431,000. Baillie Gifford & Co. raised its position 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 buying an additional 217,371 shares during the last quarter. Squarepoint Ops LLC lifted its stake in shares of RxSight by 138.6% in the 2nd quarter. Squarepoint Ops LLC now owns 374,663 shares of the company’s stock worth $4,871,000 after acquiring an additional 217,608 shares during the period. Finally, AXQ Capital LP acquired a new stake in shares of RxSight in the 2nd quarter worth $405,000. 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.