Jefferies analyst Michael Sarcone maintained a Buy rating on Glaukos (GKOS – Research Report) yesterday and set a price target of $160.00.
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Michael Sarcone’s rating is based on several compelling factors. Firstly, Glaukos has shown significant progress in the reimbursement landscape, with MAC coverage improving across various tiers. This advancement is crucial as it ensures timely payments for facilities, drugs, and professional fees, which in turn supports the company’s financial stability and growth prospects.
Additionally, Glaukos is strategically focusing on the standalone setting for its iDose product, which is expected to drive substantial growth in the interventional glaucoma market. The company’s emphasis on changing the standard of care and reducing operational complexities aligns with its long-term growth strategy. Furthermore, Glaukos anticipates a favorable FDA decision on the iDose single-use limitation by the end of 2025, which could further enhance its market position. These factors combined suggest a promising outlook for Glaukos, justifying the Buy rating.
Sarcone covers the Healthcare sector, focusing on stocks such as EDAP TMS, Glaukos, and PROCEPT BioRobotics. According to TipRanks, Sarcone has an average return of -2.4% and a 37.93% success rate on recommended stocks.
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