Eye Disease-Focused Glaukos' 'Investor Interest Should Continue To Gain Momentum:' Analyst
Portfolio Pulse from Vandana Singh
Glaukos Corporation (NYSE:GKOS) reported a Q1 adjusted EPS loss of $(0.70), missing consensus estimates but beat sales expectations with $85.6 million, a 16% Y/Y increase. The company expects 2024 sales between $357 million and $365 million. Analysts are optimistic, highlighting the success of the iDose and iStent products and predicting significant growth. William Blair rates GKOS as Outperform, and other firms have raised their price targets, leading to a 6.69% increase in GKOS shares to $105.53.
May 02, 2024 | 7:36 pm
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Glaukos Corporation reported a mixed Q1 with an EPS miss but sales beat, optimistic 2024 sales guidance, and positive analyst ratings with increased price targets.
The positive sales report and upward revision of price targets by multiple analysts, coupled with the successful launch of iDose and iStent products, suggest a strong short-term bullish sentiment for GKOS. The company's strategic shift towards a broader range of ophthalmic solutions and the anticipation of substantial growth in the latter half of the year further support this outlook.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100