UBS Group Boosts RxSight (NASDAQ:RXST) Price Target to $6.30

Key Points

• UBS Group raised its RxSight price target from $5.50 to $6.30 while maintaining a neutral rating, implying approximately 5.1% upside from the stock’s $6.00 price.
• Analyst sentiment remains cautious: RxSight has a consensus “Reduce” rating and an average price target of $8.59, based on two Buy, seven Hold, and three Sell ratings.
• RxSight reported better-than-expected quarterly results, with an adjusted loss of $0.11 per share versus the $0.33 consensus estimate and revenue of $33.74 million versus expectations of $32.55 million; shares nevertheless fell 4.7% during Thursday trading.

RxSight (NASDAQ:RXST - Get Free Report) had its price target boosted by stock analysts at UBS Group from $5.50 to $6.30 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has a "neutral" rating on the stock. UBS Group's target price suggests a potential upside of 5.09% from the company's current price.

Other equities research analysts also recently issued reports about the stock. Jefferies Financial Group set a $6.50 price objective on shares of RxSight in a research report on Tuesday, July 7th. Needham & Company LLC reissued a "buy" rating and issued a $11.00 target price on shares of RxSight in a research report on Tuesday, July 7th. Weiss Ratings downgraded shares of RxSight from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Thursday, June 11th. Bank of America cut their price target on RxSight from $8.00 to $6.50 and set an "underperform" rating for the company in a research note on Tuesday, July 7th. Finally, Wall Street Zen upgraded shares of RxSight from a "strong sell" rating to a "sell" rating in a research report on Sunday, July 12th. Two analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Reduce" and a consensus price target of $8.59.

RxSight Stock Down 4.7%

NASDAQ RXST traded down $0.29 during trading hours on Thursday, hitting $6.00. 1,027,613 shares of the company were exchanged, compared to its average volume of 977,674. The firm has a market cap of $248.18 million, a price-to-earnings ratio of -5.30 and a beta of 1.13. The company has a 50 day moving average of $5.29 and a two-hundred day moving average of $6.67. RxSight has a 52-week low of $4.48 and a 52-week high of $13.22.

RxSight (NASDAQ:RXST - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.33) by $0.22. RxSight had a negative return on equity of 17.01% and a negative net margin of 36.58%.The business had revenue of $33.74 million during the quarter, compared to analysts' expectations of $32.55 million. On average, equities research analysts predict that RxSight will post -1.41 EPS for the current year.

Institutional Trading of RxSight

A number of institutional investors have recently added to or reduced their stakes in the stock. Healthcare of Ontario Pension Plan Trust Fund increased its position in shares of RxSight by 761.0% in the first 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 buying an additional 1,000,000 shares in the last quarter. Walleye Capital LLC boosted its position in shares of RxSight by 258.6% in the 1st quarter. Walleye Capital LLC now owns 314,616 shares of the company's stock worth $1,938,000 after buying an additional 226,871 shares in the last quarter. Summit Securities Group LLC purchased a new stake in shares of RxSight in the 1st quarter worth about $30,000. Rockefeller Capital Management L.P. grew its stake in RxSight by 27.9% in the 4th quarter. Rockefeller Capital Management L.P. now owns 23,848 shares of the company's stock valued at $248,000 after acquiring an additional 5,203 shares during the last quarter. Finally, Corient Private Wealth LLC increased its holdings in RxSight by 19.7% during the 4th quarter. Corient Private Wealth LLC now owns 36,095 shares of the company's stock valued at $376,000 after acquiring an additional 5,933 shares in the last quarter. 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.

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