Glaukos Corporation (GKOS): Durable Efficacy Data in iStent Study - Cantor
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Cantor Fitzgerald analyst, Elmer Piros, reiterated his Buy rating on shares of Glaukos Corporation (NYSE: GKOS) after the company reported durable efficacy data from a three-year international study of two iStent devices in over 100 patients.
The mean intraocular pressure (IOP) was reduced by 43% in the stent group, vs. 39% in travoprost-treated patients. More than twice, 23% of the eyes in the travoprost group needed additional medications vs. only 11% of stent users.
The analyst stated "With this type of longitudinal data and with orders of magnitude more literature under its belt, Glaukos is way ahead of competition". Also "We believe that the company could easily surpass our fairly conservative $28 million revenue estimate for 3Q:16".
No change to the price target of $41.
Shares of Glaukos Corporation closed at $38.95 yesterday.
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