Glaukos Gets a Buy Rating from Cantor Fitzgerald

By Austin Angelo

In a report released today, Elemer Piros from Cantor Fitzgerald reiterated a Buy rating on Glaukos (NYSE: GKOS), with a price target of $60. The company’s shares opened today at $36.06.

Piros noted:

“Numbers out of the Way. Yes, 2Q17 revenue growth was impacted several factors: implementation of updated rates and commercial private payers (20% of the market) and sampling by a competitor. Yes, unfortunately these headwinds will remain in place for the rest of the year, coupled with the impact of the hurricanes (TX and FL represents 7% of overall sales). Accordingly, we have lowered our 2017 revenue estimate from $167 million to $158 million. If nothing else happened today, we would perhaps understand the outsized negative reaction (stock is down ~20% intraday).”

According to TipRanks.com, Piros is a 3-star analyst with an average return of 2.8% and a 48.9% success rate. Piros covers the Healthcare sector, focusing on stocks such as Spring Bank Pharmaceuticals Inc, Dimension Therapeutics Inc, and Global Blood Therapeutics.

Currently, the analyst consensus on Glaukos is Strong Buy and the average price target is $55.80, representing a 54.7% upside.

In a report issued on August 31, BMO Capital also reiterated a Buy rating on the stock with a $54 price target.

The company has a one year high of $52.49 and a one year low of $28.72. Currently, Glaukos has an average volume of 528.5K.

Based on the recent corporate insider activity of 24 insiders, corporate insider sentiment is negative on the stock.

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Glaukos Corp. is an ophthalmic medical device company, which engages in the development and commercialization of products and procedures designed to transform the treatment of glaucoma. Its micro invasive glaucoma surgery procedures are designed to reduce intraocular eye pressure by improving aqueous outflow through the natural physiologic pathway.