RxSight (NASDAQ:RXST) Price Target Raised to $9.00

RxSight (NASDAQ:RXST) had its price objective increased by UBS Group from $8.00 to $9.00 in a research report report published on Thursday morning,Benzinga reports. The firm currently has a neutral rating on the stock.

Other research analysts have also recently issued research reports about the company. Stifel Nicolaus set a $10.00 price target on RxSight in a research note on Thursday, November 6th. Piper Sandler cut their target price on RxSight from $11.00 to $10.00 and set a “neutral” rating on the stock in a research report on Thursday. Wolfe Research raised shares of RxSight to an “outperform” rating in a research report on Friday, January 30th. Morgan Stanley lifted their price target on shares of RxSight from $9.00 to $10.00 and gave the stock an “equal weight” rating in a research note on Tuesday, December 2nd. Finally, Wells Fargo & Company upped their price target on shares of RxSight from $9.00 to $10.00 and gave the company an “equal weight” rating in a report on Thursday, November 6th. Two equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, RxSight currently has an average rating of “Reduce” and an average target price of $9.89.

RxSight Price Performance

RxSight stock opened at $7.48 on Thursday. RxSight has a 12-month low of $6.32 and a 12-month high of $29.00. The company has a market capitalization of $308.70 million, a price-to-earnings ratio of -7.87 and a beta of 1.14. The firm’s fifty day moving average price is $9.35 and its 200 day moving average price is $9.50.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in RXST. Raymond James Financial Inc. bought a new stake in RxSight in the second quarter valued at $28,000. Bessemer Group Inc. bought a new stake in RxSight in the 2nd quarter valued at about $33,000. Caitong International Asset Management Co. Ltd lifted its position in RxSight by 440.7% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 3,758 shares of the company’s stock valued at $39,000 after purchasing an additional 3,063 shares during the last quarter. CWM LLC boosted its stake in RxSight by 211.1% during the 4th quarter. CWM LLC now owns 3,826 shares of the company’s stock valued at $40,000 after purchasing an additional 2,596 shares during the period. Finally, Larson Financial Group LLC grew its position in RxSight by 110.5% in the 3rd quarter. Larson Financial Group LLC now owns 3,979 shares of the company’s stock worth $36,000 after purchasing an additional 2,089 shares during the last quarter. 78.78% of the stock is currently owned by institutional investors.

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.