Why Did Oppenheimer Upgrade Glaukos’ Stock?

By Ryan Adsit

Oppenheimer analyst Steven Lichtman upgraded Glaukos (GKOSResearch Report) to Buy today and set a price target of $100.00. The company’s shares closed last Wednesday at $79.95.

According to TipRanks.com, Lichtman is a 5-star analyst with an average return of 18.3% and a 58.8% success rate. Lichtman covers the Healthcare sector, focusing on stocks such as Organogenesis Holdings, Zimmer Biomet Holdings, and Merit Medical Systems.

Currently, the analyst consensus on Glaukos is a Hold with an average price target of $90.00.

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The company has a one-year high of $99.00 and a one-year low of $29.68. Currently, Glaukos has an average volume of 424.2K.

Based on the recent corporate insider activity of 34 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.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Glaukos Corp. is an ophthalmic medical device company, which engages in the development and commercialization of surgical devices and sustained pharmaceutical therapies designed to treat glaucoma. Its Micro Invasive Glaucoma Surgery procedures are designed to reduce intraocular eye pressure by improving aqueous outflow through the natural physiologic pathway. The company was founded by Olav B. Bergheim, Morteza Gharib, and Richard Hill on July 14, 1998 and is headquartered in San Clemente, CA.