Needham & Company LLC Reaffirms Buy Rating for RxSight (NASDAQ:RXST)

RxSight (NASDAQ:RXST)‘s stock had its “buy” rating restated by research analysts at Needham & Company LLC in a research note issued on Tuesday,Benzinga reports. They presently have a $11.00 price target on the stock. Needham & Company LLC’s price objective suggests a potential upside of 96.43% from the stock’s current price.

Several other equities research analysts have also weighed in on RXST. Weiss Ratings lowered RxSight from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, June 11th. Stifel Nicolaus lowered their price target on RxSight from $10.00 to $9.00 and set a “hold” rating on the stock in a report on Monday, March 9th. Finally, Wells Fargo & Company dropped their price target on shares of RxSight from $11.00 to $9.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 7th. Two equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, RxSight has an average rating of “Reduce” and a consensus target price of $9.44.

RxSight Stock Performance

RXST opened at $5.60 on Tuesday. The company has a market cap of $231.84 million, a PE ratio of -4.96 and a beta of 1.15. The stock has a 50-day moving average of $5.58 and a 200-day moving average of $7.46. RxSight has a 52-week low of $4.48 and a 52-week high of $13.36.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Raymond James Financial Inc. acquired a new stake in RxSight during the second quarter worth $28,000. Summit Securities Group LLC acquired a new position in shares of RxSight in the 1st quarter valued at $30,000. Larson Financial Group LLC raised its stake in shares of RxSight by 110.5% in the 3rd quarter. Larson Financial Group LLC now owns 3,979 shares of the company’s stock valued at $36,000 after buying an additional 2,089 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its holdings in shares of RxSight by 440.7% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 3,758 shares of the company’s stock worth $39,000 after acquiring an additional 3,063 shares during the period. Finally, CWM LLC lifted its holdings in shares of RxSight by 211.1% during the 4th quarter. CWM LLC now owns 3,826 shares of the company’s stock worth $40,000 after acquiring an additional 2,596 shares during the period. 78.78% of the stock is owned by institutional investors.

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.