Glaukos stock trends
Glaukos (GKOS) is an ophthalmic medtech company focused on leveraging opportunity in the global glaucoma market. The stock has risen 139.8%, from $27.08 on January 2, 2018, to $61.51 on September 7, 2018. To know more about the sudden rise in Glaukos stock in August, please refer to Glaukos Stock Rose 40.3% on August 29.
On June 25, Glaukos got FDA approval for its next-generation Trabecular Micro-Bypass device, the iStent Inject, for reducing intraocular pressure in cataract surgery for patients also suffering from mild-to-moderate primary open-angle glaucoma. The iStent Inject is already available in multiple markets outside the United States, with ~30,000 already implanted at the end of July.
Since the iStent Inject uses the same mechanism of action as the company’s first-generation iStent, Glaukos is focused on convincing its existing base of iStent-trained surgeons to switch to the iStent Inject. As part of its 5 in 5 growth strategy, Glaukos aims to launch five innovative products in the US market in five years, by 2023. The iStent Inject is the first of those products.
Analyst recommendations for Glaukos
The consensus recommendation for Glaukos over the next 12 months is a “buy.” Of the nine analysts covering Glaukos in September, four have recommended a “strong buy” for the stock, two have recommended a “buy”, and three have recommended a “hold.”
Wall Street analysts have projected s 12-month consensus target price for Glaukos of $68.38, a rise of 11.2% over its closing price on September 7.
Wall Street analysts expect Glaukos to report revenues of $177 million, which will be a year-over-year rise of 11.1%. The consensus estimate is higher than its revenue guidance of $162 million–$166 million for 2018.
In the next part of this series, we’ll look at growth trends for Inogen.
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