RxSight (NASDAQ:RXST) Given New $9.00 Price Target at Wells Fargo & Company

RxSight (NASDAQ:RXST) had its price target reduced by research analysts at Wells Fargo & Company from $11.00 to $9.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target would suggest a potential upside of 65.11% from the company’s current price.

Several other research analysts have also issued reports on RXST. UBS Group raised their price target on RxSight from $8.00 to $9.00 and gave the stock a “neutral” rating in a research report on Thursday, February 26th. William Blair assumed coverage on RxSight in a research note on Friday, January 30th. They set a “market perform” rating on the stock. Needham & Company LLC dropped their price objective on RxSight from $13.00 to $11.00 and set a “buy” rating on the stock in a research note on Thursday. Piper Sandler dropped their price target on RxSight from $11.00 to $10.00 and set a “neutral” rating on the stock in a research note on Thursday, February 26th. Finally, Wolfe Research raised RxSight to an “outperform” rating in a research note on Friday, January 30th. Two 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus price target of $9.44.

RxSight Trading Down 19.6%

Shares of NASDAQ:RXST traded down $1.33 during midday trading on Thursday, hitting $5.45. The company had a trading volume of 451,610 shares, compared to its average volume of 867,670. RxSight has a 12 month low of $5.60 and a 12 month high of $16.74. The stock has a market cap of $225.67 million, a price-to-earnings ratio of -5.73 and a beta of 1.24. The firm has a fifty day simple moving average of $7.17 and a 200 day simple moving average of $8.95.

Institutional Trading of RxSight

Several hedge funds and other institutional investors have recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of RxSight by 6.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,861 shares of the company’s stock valued at $552,000 after acquiring an additional 1,232 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of RxSight by 57.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 310,411 shares of the company’s stock valued at $7,838,000 after acquiring an additional 113,767 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of RxSight by 9.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 93,382 shares of the company’s stock valued at $2,358,000 after acquiring an additional 8,424 shares in the last quarter. Creative Planning bought a new position in shares of RxSight in the 2nd quarter valued at about $207,000. Finally, Legal & General Group Plc grew its holdings in shares of RxSight by 5.0% in the 2nd quarter. Legal & General Group Plc now owns 44,574 shares of the company’s stock valued at $579,000 after acquiring an additional 2,121 shares in the last quarter. Institutional investors and hedge funds own 78.78% of the company’s stock.

Key RxSight News

Here are the key news stories impacting RxSight this week:

• Positive Sentiment: Needham cut its price target from $13 to $11 but kept a Buy rating, highlighting continued upside potential (Needham sees an ~82% upside from current levels). Needham Lowers PT, Keeps Buy
• Neutral Sentiment: RxSight reiterated its full-year sales outlook and provided revenue guidance of $120.0M–$135.0M (consensus ~$129.1M), leaving guidance roughly in line but skewing slightly below consensus midpoint. Company Reiterates Full-Year Sales Outlook
• Neutral Sentiment: Top-line: Q1 revenue of $30.89M beat the $29.75M estimate, which is a modest positive in the report. Q1 Revenue Beats Estimates
• Negative Sentiment: EPS missed materially: Q1 loss was ($0.19) vs. consensus ($0.12), and EPS worsened year-over-year — a key driver of the stock’s weakness. Earnings Miss and Call
• Negative Sentiment: Brokerage sentiment is soft: the stock has an average rating of “Reduce” from brokerages, adding downside pressure. Average Rating of Reduce

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.