RxSight (NASDAQ:RXST) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

RxSight (NASDAQ:RXST) had its price target lifted by equities researchers at Wells Fargo & Company from $9.00 to $10.00 in a research report issued on Thursday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price points to a potential upside of 13.86% from the company’s previous close.

A number of other equities research analysts have also recently commented on the stock. Oppenheimer cut shares of RxSight from an “outperform” rating to a “market perform” rating in a research report on Wednesday, July 9th. Piper Sandler dropped their price target on RxSight from $18.00 to $10.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 9th. Zacks Research upgraded shares of RxSight from a “strong sell” rating to a “hold” rating in a report on Monday, September 8th. Morgan Stanley cut shares of RxSight from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $20.00 to $9.00 in a research note on Tuesday, July 15th. Finally, BTIG Research restated a “neutral” rating on shares of RxSight in a research note on Wednesday, July 9th. One analyst has rated the stock with a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus price target of $10.22.

RxSight Trading Up 5.3%

Shares of NASDAQ:RXST traded up $0.44 on Thursday, reaching $8.78. The company had a trading volume of 587,053 shares, compared to its average volume of 984,850. The firm has a market capitalization of $359.40 million, a PE ratio of -10.98 and a beta of 1.16. RxSight has a 52-week low of $6.32 and a 52-week high of $55.57. The firm’s 50 day simple moving average is $8.79 and its 200-day simple moving average is $10.82.

RxSight (NASDAQ:RXST) last issued its quarterly earnings data on Wednesday, November 5th. The company reported ($0.04) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.15. RxSight had a negative return on equity of 11.56% and a negative net margin of 21.93%.The company had revenue of $30.34 million for the quarter, compared to the consensus estimate of $25.63 million. During the same quarter last year, the company earned ($0.16) earnings per share. The firm’s revenue for the quarter was down 31.4% compared to the same quarter last year. RxSight has set its FY 2025 guidance at EPS. As a group, equities research analysts predict that RxSight will post -0.7 earnings per share for the current year.

Hedge Funds Weigh In On RxSight

Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of RxSight by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 2,392,052 shares of the company’s stock valued at $60,399,000 after acquiring an additional 8,504 shares during the period. Artisan Partners Limited Partnership increased its position in shares of RxSight by 27.4% in the second quarter. Artisan Partners Limited Partnership now owns 2,252,544 shares of the company’s stock valued at $29,283,000 after buying an additional 485,021 shares in the last quarter. Brown Capital Management LLC raised its stake in shares of RxSight by 18.2% during the 2nd quarter. Brown Capital Management LLC now owns 1,119,240 shares of the company’s stock worth $14,550,000 after buying an additional 171,952 shares during the period. Credit Agricole S A lifted its position in shares of RxSight by 32.8% during the 1st quarter. Credit Agricole S A now owns 786,063 shares of the company’s stock valued at $19,848,000 after buying an additional 194,032 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. grew its stake in RxSight by 885.7% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 719,818 shares of the company’s stock valued at $18,176,000 after acquiring an additional 646,791 shares during the period. 78.78% of the stock is owned by hedge funds and other institutional investors.

RxSight Company Profile

RxSight, Inc, a commercial-stage medical device company, engages in the research and development, manufacture, and sale of light adjustable intraocular lenses (LAL) used in cataract surgery in the United States and internationally. It offers RxSight system that enables doctors to customize and enhance the visual acuity for patients after cataract surgery.