RxSight (NASDAQ:RXST) Given New $9.00 Price Target at UBS Group

RxSight (NASDAQ:RXST) had its target price upped by stock analysts at UBS Group from $8.00 to $9.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the stock. UBS Group’s price target would indicate a potential upside of 12.43% from the stock’s current price.

Other equities analysts have also issued research reports about the company. Stifel Nicolaus set a $10.00 target price on RxSight in a research report on Thursday, November 6th. JPMorgan Chase & Co. boosted their price objective on shares of RxSight from $8.00 to $9.00 and gave the company an “underweight” rating in a report on Thursday, November 6th. William Blair initiated coverage on shares of RxSight in a report on Friday, January 30th. They issued a “market perform” rating on the stock. Morgan Stanley lifted their target price on shares of RxSight from $9.00 to $10.00 and gave the stock an “equal weight” rating in a research report on Tuesday, December 2nd. Finally, Wells Fargo & Company increased their price target on 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 issued a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Reduce” and an average price target of $9.89.

RxSight Price Performance

RxSight stock traded down $0.81 during mid-day trading on Thursday, reaching $8.01. The stock had a trading volume of 975,968 shares, compared to its average volume of 1,054,663. The company has a market capitalization of $329.17 million, a price-to-earnings ratio of -9.12 and a beta of 1.14. RxSight has a one year low of $6.32 and a one year high of $29.69. The company has a 50-day moving average price of $9.53 and a two-hundred day moving average price of $9.49.

Hedge Funds Weigh In On RxSight

Hedge funds have recently modified their holdings of the stock. Brown Capital Management LLC grew its position in shares of RxSight by 18.2% in the second quarter. Brown Capital Management LLC now owns 1,119,240 shares of the company’s stock valued at $14,550,000 after purchasing an additional 171,952 shares during the period. Y Intercept Hong Kong Ltd purchased a new position in RxSight in the 2nd quarter valued at about $1,431,000. Baillie Gifford & Co. increased its stake in RxSight by 46.4% during the 3rd quarter. Baillie Gifford & Co. now owns 686,316 shares of the company’s stock worth $6,170,000 after buying an additional 217,371 shares in the last quarter. Squarepoint Ops LLC raised its holdings in shares of RxSight by 138.6% during the second quarter. Squarepoint Ops LLC now owns 374,663 shares of the company’s stock valued at $4,871,000 after acquiring an additional 217,608 shares during the last quarter. Finally, AXQ Capital LP acquired a new stake in shares of RxSight in the second quarter worth approximately $405,000. Hedge funds and other institutional investors 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.