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Wells downgrades Glaukos with iDose growth priced in

Wells Fargo downgraded Glaukos (GKOS) to Equal Weight from Overweight with a price target of $86, down from $160. The growth runway for iDose is priced into the shares while the base business offers no upside, the analyst tells investors in a research note. Wells says its sum-of-the-parts analysis indicates Glaukos’ iDose growth runway is priced in at current share levels. Meanwhile, the company’s base business is expected to grow flat year-over-year in fiscal 2025, contends the firm.

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