UPDATE: Needham & Company Starts RxSight Inc. (RXST) at Buy
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Needham & Company analyst David Saxon initiates coverage on RxSight Inc. (NASDAQ: RXST) with a Buy rating and a price target of $18.00.
The analyst comments "The RxSight System is a differentiated intraocular lens (IOL) that can result in better visual outcomes for the patient. We believe this could drive adoption despite the incremental capital equipment required. Our doctor checks (doc diligence) suggest RXST's IOL could be appropriate for up to ~20% of the cataract patient population (vs. RXST's 2021 US market share of ~0.7%). We believe shares are attractively valued considering RXST's growth profile, and initiate coverage with a Buy rating and an $18 price target."
Shares of RxSight Inc. closed at $13.51 yesterday.
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