Brokerages Set RxSight, Inc. (NASDAQ:RXST) Target Price at $8.89

RxSight, Inc. (NASDAQ:RXST – Get Free Report) has been assigned a consensus recommendation of “Reduce” from the twelve ratings firms that are currently covering the firm, Marketbeat reports. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $8.8889.

A number of equities analysts have recently issued reports on RXST shares. Needham & Company LLC restated a “buy” rating and set a $11.00 target price on shares of RxSight in a research report on Tuesday, July 7th. Weiss Ratings downgraded shares of RxSight from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, June 11th. Bank of America decreased their price target on shares of RxSight from $8.00 to $6.50 and set an “underperform” rating for the company in a research note on Tuesday, July 7th. Wall Street Zen raised shares of RxSight from a “strong sell” rating to a “sell” rating in a research report on Sunday, July 12th. Finally, Jefferies Financial Group set a $6.50 price objective on shares of RxSight in a research note on Tuesday, July 7th.

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Hedge Funds Weigh In On RxSight

Hedge funds and other institutional investors have recently made changes to their positions in the stock. 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 valued at $552,000 after acquiring an additional 1,232 shares during the last quarter. Invesco Ltd. grew its stake in shares of RxSight by 6.6% in the 4th quarter. Invesco Ltd. now owns 20,114 shares of the company’s stock valued at $210,000 after purchasing an additional 1,249 shares during the last quarter. Verition Fund Management LLC grew its stake in shares of RxSight by 4.4% in the 4th quarter. Verition Fund Management LLC now owns 40,613 shares of the company’s stock valued at $423,000 after purchasing an additional 1,701 shares during the last quarter. Larson Financial Group LLC increased its holdings in shares of RxSight by 110.5% in the third quarter. Larson Financial Group LLC now owns 3,979 shares of the company’s stock valued at $36,000 after purchasing an additional 2,089 shares during the period. Finally, Legal & General Group Plc raised its stake in shares of RxSight by 5.0% during the second quarter. Legal & General Group Plc now owns 44,574 shares of the company’s stock worth $579,000 after purchasing an additional 2,121 shares during the last quarter. Hedge funds and other institutional investors own 78.78% of the company’s stock.

RxSight Price Performance

NASDAQ:RXST opened at $5.19 on Monday. The stock’s 50 day moving average price is $5.28 and its 200 day moving average price is $6.88. The company has a market capitalization of $214.87 million, a PE ratio of -4.59 and a beta of 1.15. RxSight has a 52-week low of $4.48 and a 52-week high of $13.22.

RxSight Company Profile

(Get Free Report)

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.

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