Glaukos' Newly Approved Glaucoma Treatment Is The 'Biggest Driver To Watch': Analyst
Portfolio Pulse from Priya Nigam
Glaukos Corp (NYSE:GKOS) shares rose after its iDose TR glaucoma treatment received FDA approval. JPMorgan analyst Allen Gong upgraded Glaukos to Overweight and increased the price target from $66 to $91, citing iDose as a key growth driver. Gong anticipates higher selling prices for iDose, benefits from the adoption of Infinite, and potential gains from iStent due to unfavorable LCDs for competitors. He expects a 'beat-and-raise' story in 2024, with positive estimate revisions for 2025 and beyond.
December 21, 2023 | 4:48 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
Glaukos Corp's stock is likely to experience continued positive momentum following the FDA approval of iDose TR and the upgrade by JPMorgan analyst Allen Gong from Neutral to Overweight with a raised price target of $91.
The FDA approval of iDose TR is a significant regulatory milestone for Glaukos, likely to boost investor confidence and drive sales. The upgrade by JPMorgan, with a substantial increase in the price target, reflects a strong analyst endorsement of the company's growth prospects, particularly with iDose TR. This positive analyst action, combined with the product approval news, is expected to have a favorable impact on the stock price in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100