Analyst Michael Sarcone of Jefferies maintained a Buy rating on Glaukos (GKOS – Research Report), with a price target of $160.00.
Michael Sarcone has given his Buy rating due to a combination of factors influencing Glaukos’s market position and future prospects. The company has shown increased optimism about the iDose market opportunity, driven by positive clinical outcomes and advancements in surgeon training, which have exceeded expectations. Additionally, Glaukos has made significant progress in reimbursement processes, which is crucial for the expansion of their iDose volumes.
Despite some logistical challenges in payer processing, particularly with certain Medicare Administrative Contractors (MACs), Glaukos has managed to maintain a steady reimbursement flow, especially with Noridian, which has been a dominant payer. The company’s strategic focus on developing healthy professional fees and driving standalone procedures has also contributed to a positive outlook. Overall, the combination of these factors supports a robust growth trajectory for Glaukos, justifying the Buy rating.
In another report released yesterday, Stifel Nicolaus also maintained a Buy rating on the stock with a $175.00 price target.
Based on the recent corporate insider activity of 82 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of GKOS in relation to earlier this year.