Needham & Company LLC Boosts RxSight (NASDAQ:RXST) Price Target to $12.00

RxSight (NASDAQ:RXST) had its price objective upped by equities researchers at Needham & Company LLC from $11.00 to $12.00 in a report issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. Needham & Company LLC’s target price would indicate a potential upside of 28.07% from the company’s previous close.

A number of other research firms have also recently commented on RXST. Zacks Research upgraded shares of RxSight from a “strong sell” rating to a “hold” rating in a research report on Monday, September 8th. Jefferies Financial Group reissued a “hold” rating and issued a $9.00 target price (down from $24.00) on shares of RxSight in a research note on Thursday, July 10th. Oppenheimer lowered RxSight from an “outperform” rating to a “market perform” rating in a research report on Wednesday, July 9th. BTIG Research reiterated a “neutral” rating on shares of RxSight in a research report on Wednesday, July 9th. Finally, Wells Fargo & Company cut RxSight from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $25.00 to $9.00 in a research note on Wednesday, July 9th. One research analyst has rated the stock with a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, RxSight has a consensus rating of “Reduce” and an average target price of $9.56.

RxSight Stock Up 8.8%

RxSight stock opened at $9.37 on Thursday. The stock has a market cap of $383.38 million, a price-to-earnings ratio of -10.65 and a beta of 1.16. The business has a 50 day moving average price of $8.78 and a two-hundred day moving average price of $10.77. RxSight has a 12 month low of $6.32 and a 12 month high of $49.25.

RxSight (NASDAQ:RXST) last issued its quarterly earnings data on Wednesday, November 5th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.15. The firm had revenue of $30.34 million during the quarter, compared to analysts’ expectations of $25.63 million. RxSight had a negative net margin of 25.15% and a negative return on equity of 12.78%. The business’s revenue for the quarter was down 31.4% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.16) earnings per share. RxSight has set its FY 2025 guidance at EPS. On average, analysts expect that RxSight will post -0.7 earnings per share for the current fiscal year.

Institutional Trading of RxSight

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Raymond James Financial Inc. bought a new position in RxSight in the second quarter valued at approximately $28,000. Bessemer Group Inc. acquired a new stake in shares of RxSight in the 2nd quarter valued at approximately $33,000. State of Wyoming boosted its holdings in shares of RxSight by 91.5% in the 1st quarter. State of Wyoming now owns 2,062 shares of the company’s stock valued at $52,000 after buying an additional 985 shares during the last quarter. CWM LLC grew its stake in shares of RxSight by 614.1% in the second quarter. CWM LLC now owns 4,520 shares of the company’s stock valued at $59,000 after buying an additional 3,887 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its holdings in RxSight by 156.2% during the second quarter. Tower Research Capital LLC TRC now owns 5,574 shares of the company’s stock worth $72,000 after buying an additional 3,398 shares during the last quarter. Institutional investors own 78.78% of the company’s stock.

About RxSight

RxSight, Inc, a commercial-stage medical device company, engages in the research and development, manufacture, and sale of light adjustable intraocular lenses (LAL) used in cataract surgery in the United States and internationally. It offers RxSight system that enables doctors to customize and enhance the visual acuity for patients after cataract surgery.