RxSight downgraded to Hold from Buy at Jefferies

Jefferies downgraded RxSight (RXST) to Hold from Buy with a price target of $9, down from $24. The company reported a second consecutive quarter of “missing and lowering,” as the capital selling cycle has elongated, new customers are slower to ramp, and existing customer utilizations have flattened, the analyst tells investors in a research note. The firm says that while RxSight has initiated a new commercial pivot to improve utilization and growth, it is uncertain about the pace of the company’s growth recovery as well as timing of an inflection.