Piper Sandler Issues Pessimistic Forecast for RxSight (NASDAQ:RXST) Stock Price

RxSight (NASDAQ:RXST) had its target price cut by analysts at Piper Sandler from $10.00 to $8.00 in a report issued on Wednesday, Benzinga reports. The firm currently has a “neutral” rating on the stock. Piper Sandler‘s price target indicates a potential upside of 52.24% from the stock’s current price.

Several other research analysts also recently weighed in on RXST. Weiss Ratings restated a “sell (e+)” rating on shares of RxSight in a research note on Tuesday, September 8th. Wells Fargo & Company decreased their price target on RxSight from $9.00 to $6.00 and set an “equal weight” rating for the company in a research note on Wednesday. Needham & Company LLC lowered their price target on RxSight from $11.00 to $7.00 and set a “buy” rating for the company in a report on Wednesday. Bank of America dropped their price target on RxSight from $6.50 to $5.50 and set an “underperform” rating on the stock in a research note on Tuesday, September 22nd. Finally, Wall Street Zen downgraded shares of RxSight from a “hold” rating to a “sell” rating in a report on Sunday, October 25th. Two equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Reduce” and an average target price of $7.17.

RxSight Price Performance

NASDAQ RXST traded up $0.67 on Wednesday, hitting $5.25. The stock had a trading volume of 1,345,784 shares, compared to its average volume of 921,465. The business’s fifty day moving average price is $5.33 and its 200 day moving average price is $6.34. RxSight has a 52-week low of $4.11 and a 52-week high of $13.22. The stock has a market cap of $218.56 million, a price-to-earnings ratio of -4.65 and a beta of 1.21.

RxSight (NASDAQ:RXST) last issued its quarterly earnings results on Tuesday, November 3rd. The company reported ($0.39) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.08). RxSight had a negative return on equity of 17.35% and a negative net margin of 36.80%. The business had revenue of $24.59 million for the quarter, compared to analyst estimates of $27.19 million. As a group, sell-side analysts anticipate that RxSight will post -1.03 EPS for the current year.

Insider Buying and Selling at RxSight

In other RxSight news, CFO Mark Wilterding sold 7,765 shares of the business’s stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $6.96, for a total transaction of $54,044.40. Following the sale, the chief financial officer owned 25,049 shares in the company, valued at approximately $174,341.04. The trade was a 23.66% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Ronald M. Md Kurtz sold 5,100 shares of the stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $6.96, for a total value of $35,496.00. Following the completion of the transaction, the insider directly owned 71,775 shares in the company, valued at $499,554. This represents a 6.63% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders sold 16,947 shares of company stock worth $117,951. 10.05% of the stock is owned by insiders.

Institutional Investors Weigh In On RxSight

A number of large investors have recently bought and sold shares of RXST. BlackRock Inc. acquired a new position in RxSight in the 2nd quarter worth approximately $27,910,000. Bank of America Corp DE lifted its stake in RxSight by 30.3% during the 1st quarter. Bank of America Corp DE now owns 1,210,039 shares of the company’s stock valued at $7,454,000 after acquiring an additional 281,426 shares during the period. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in shares of RxSight by 761.0% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,131,400 shares of the company’s stock valued at $6,969,000 after acquiring an additional 1,000,000 shares during the last quarter. Grandeur Peak Global Advisors LLC purchased a new stake in shares of RxSight in the 2nd quarter valued at $3,482,000. Finally, Deutsche Bank AG acquired a new stake in shares of RxSight in the second quarter worth $2,604,000. Hedge funds and other institutional investors own 78.78% of the company’s stock.

Key Headlines Impacting RxSight

Here are the key news stories impacting RxSight this week:

• Positive Sentiment: Zacks reported a quarterly loss of $0.21 per share, narrower than its consensus estimate of a $0.29 loss. This could offer some support, though the loss was larger than a year earlier. Zacks Q3 results
• Neutral Sentiment: Needham lowered its price target from $11 to $7 but maintained a Buy rating. The reduced target signals less optimism than before, while the rating and stated upside from the quoted share price may help temper concerns. Needham ratings
• Neutral Sentiment: RxSight said next-generation Light Adjustable Lens timing is no earlier than 2028 and indicated it plans to resume providing 2027 guidance. The longer product timeline may matter to investors, but the guidance update could provide more clarity when released. Next-generation LAL timing and guidance
• Negative Sentiment: The reported quarter showed revenue of $24.59 million, below the $27.19 million analyst estimate and down 19% year over year. RxSight also reported a $16.2 million net loss; MarketBeat cited an EPS loss of $0.39, missing its consensus estimate of a $0.31 loss. These results point to continued operating and growth pressure. Q3 loss and revenue decline

About RxSight

RxSight, Inc is a medical technology company focused on improving visual outcomes for patients undergoing cataract surgery. The company develops and commercializes ophthalmic products that allow surgeons to customize a patient’s vision after surgery.

Its primary product is the RxSight Light Adjustable Lens, an intraocular lens implanted during cataract surgery. After implantation, the lens can be adjusted using ultraviolet light treatments delivered by the company’s Light Delivery Device, enabling physicians to refine the lens power based on the patient’s postoperative visual needs.