David Saxon, an analyst from Needham, maintained the Buy rating on Glaukos. The associated price target was raised to $125.00.
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David Saxon has given his Buy rating due to a combination of factors that suggest a positive outlook for Glaukos. One of the key reasons is the potential near-term upside in Photrexa numbers, as there is no evidence of ‘warehousing,’ which could indicate stronger demand than previously anticipated. Additionally, the introduction of Epioxa is expected to enhance doctors’ capacity, allowing them to treat more patients, which could further drive growth.
Moreover, assuming that insurance coverage for Epioxa becomes widely established, it could be adopted by doctors who are currently performing off-label Epi-On procedures, thereby expanding its market reach. These factors, combined with the updated financial model that includes Epioxa, have led to an increased price target of $125, reinforcing the Buy recommendation.
In another report released on November 24, Stifel Nicolaus also maintained a Buy rating on the stock with a $115.00 price target.
Based on the recent corporate insider activity of 60 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.