In a report released today, David Saxon from Needham reiterated a Buy rating on Glaukos (GKOS – Research Report), with a price target of $115.00.
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David Saxon has given his Buy rating due to a combination of factors influencing Glaukos’s financial outlook. The company’s first-quarter revenue for 2025 exceeded expectations, and although the management maintained its revenue guidance for the year, the contribution from the iDose product line has increased by approximately $5 million.
Additionally, while the Local Coverage Determinations (LCDs) are affecting Glaukos’s core iStent platform, the expanding reimbursement for the iDose product is expected to drive further adoption. The company is also anticipating a decision from the FDA regarding iDose re-treatment by the end of the year. Despite lowering the price target to $115 from $176 due to reduced peer multiples, the overall outlook remains positive, supporting the Buy rating.
According to TipRanks, Saxon is an analyst with an average return of -3.9% and a 31.49% success rate. Saxon covers the Healthcare sector, focusing on stocks such as DENTSPLY SIRONA, Globus Medical, and Alcon.