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

Key Points

• Piper Sandler cut its RxSight price target from $10 to $8 while maintaining a Neutral rating; the new target implies 52.24% upside from the prior close. Analysts overall rate the stock “Reduce,” with an average target of $7.17.
• RxSight’s latest quarter fell short of estimates: revenue was $24.59 million versus $27.19 million expected, and its $0.39-per-share loss was wider than the expected $0.31 loss. A separate report cited revenue down 19% year over year, underscoring ongoing business pressure.
• The company said its next-generation Light Adjustable Lens is not expected before 2028 and plans to resume providing 2027 guidance.

RxSight (NASDAQ:RXST - Get Free Report) had its target price decreased by Piper Sandler from $10.00 to $8.00 in a report issued on Wednesday, Benzinga reports. The brokerage presently has a "neutral" rating on the stock. Piper Sandler's price objective suggests a potential upside of 52.24% from the company's previous close.

A number of other research analysts have also recently commented on the stock. Wall Street Zen cut shares of RxSight from a "hold" rating to a "sell" rating in a report on Sunday, October 25th. Stifel Nicolaus decreased their price objective on shares of RxSight from $8.00 to $7.00 and set a "hold" rating for the company in a report on Monday, August 10th. Wells Fargo & Company dropped their target price on shares of RxSight from $9.00 to $6.00 and set an "equal weight" rating on the stock in a research note on Wednesday. Jefferies Financial Group reduced their target price on shares of RxSight from $6.50 to $5.75 and set a "hold" rating on the stock in a research report on Tuesday, September 22nd. Finally, Weiss Ratings reaffirmed a "sell (e+)" rating on shares of RxSight in a research note on Tuesday, September 8th. Two analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Reduce" and an average target price of $7.17.

RxSight Stock Performance

RxSight stock traded up $0.67 during mid-day trading on Wednesday, hitting $5.25. The company's stock had a trading volume of 1,345,784 shares, compared to its average volume of 921,465. The company has a 50 day moving average of $5.33 and a 200-day moving average of $6.34. The stock has a market cap of $218.56 million, a PE ratio of -4.65 and a beta of 1.21. RxSight has a one year low of $4.11 and a one year high of $13.22.

RxSight (NASDAQ:RXST - Get Free Report) last released its earnings results on Tuesday, November 3rd. The company reported ($0.39) earnings per share 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 during the quarter, compared to analysts' expectations of $27.19 million. On average, equities research analysts forecast that RxSight will post -1.03 EPS for the current fiscal year.

Insider Buying and Selling at RxSight

In other news, insider M Kurtz sold 5,100 shares of the firm's stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $6.96, for a total transaction of $35,496.00. Following the transaction, the insider owned 71,775 shares in the company, valued at approximately $499,554. This trade represents a 6.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Mark Wilterding sold 7,765 shares of RxSight stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $6.96, for a total value of $54,044.40. Following the completion of the sale, the chief financial officer owned 25,049 shares of the company's stock, valued at $174,341.04. The trade was a 23.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 16,947 shares of company stock worth $117,951. Insiders own 10.05% of the company's stock.

Institutional Investors Weigh In On RxSight

Hedge funds have recently modified their holdings of the business. Summit Securities Group LLC purchased a new stake in shares of RxSight during the 1st quarter worth $30,000. Pure Financial Advisors LLC purchased a new position in RxSight in the second quarter valued at about $53,000. The Manufacturers Life Insurance Company purchased a new position in RxSight in the second quarter valued at about $56,000. Great Lakes Advisors LLC bought a new position in RxSight in the second quarter worth about $61,000. Finally, Public Employees Retirement System of Ohio bought a new position in RxSight in the first quarter worth about $81,000. 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

RxSight Company Profile

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.

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