Piper Sandler Cuts RxSight (NASDAQ:RXST) Price Target to $10.00

RxSight (NASDAQ:RXST) had its price objective cut by Piper Sandler from $11.00 to $10.00 in a report issued on Thursday,Benzinga reports. They currently have a neutral rating on the stock.

Several other brokerages have also weighed in on RXST. Needham & Company LLC reaffirmed a “buy” rating and set a $13.00 price objective on shares of RxSight in a research report on Thursday. William Blair started coverage on shares of RxSight in a research note on Friday, January 30th. They set a “market perform” rating on the stock. Morgan Stanley lifted their price objective on shares of RxSight from $9.00 to $10.00 and gave the company an “equal weight” rating in a research note on Tuesday, December 2nd. UBS Group reiterated a “neutral” rating on shares of RxSight in a report on Monday, January 12th. Finally, Wolfe Research upgraded RxSight to an “outperform” rating in a report on Friday, January 30th. Two research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus target price of $9.89.

RxSight Trading Down 5.6%

Shares of NASDAQ:RXST opened at $7.48 on Thursday. The firm has a market cap of $308.70 million, a price-to-earnings ratio of -7.87 and a beta of 1.14. RxSight has a 1 year low of $6.32 and a 1 year high of $29.00. The business has a fifty day simple moving average of $9.35 and a 200 day simple moving average of $9.50.

Hedge Funds Weigh In On RxSight

Several large investors have recently made changes to their positions in RXST. Virtu Financial LLC bought a new stake in RxSight during the 4th quarter valued at approximately $156,000. Invesco Ltd. lifted its holdings in shares of RxSight by 6.6% during the fourth quarter. Invesco Ltd. now owns 20,114 shares of the company’s stock worth $210,000 after buying an additional 1,249 shares during the last quarter. Corient Private Wealth LLC boosted its position in shares of RxSight by 17.9% in the fourth quarter. Corient Private Wealth LLC now owns 35,570 shares of the company’s stock valued at $371,000 after acquiring an additional 5,408 shares during the period. Tudor Investment Corp ET AL bought a new stake in shares of RxSight in the fourth quarter valued at approximately $201,000. Finally, Boothbay Fund Management LLC acquired a new stake in shares of RxSight in the fourth quarter worth $123,000. 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.