Piper Sandler Reiterates Overweight Rating on Glaukos Corporation (GKOS)

Piper Sandler analyst Matt O'Brien reiterated an Overweight rating and $140.00 price target on Glaukos Corporation (NYSE: GKOS).

The analyst commetned, "This afternoon, GKOS announced positive topline outcomes in their Ph. 3 trial for Epioxa (Epi-on) in its treatment of keratoconus. The trial successfully met the primary efficacy endpoint, demonstrating a statistically significant improvement in Kmax at 12 months. This second Ph. 3 trial together with the already-completed first Ph. 3 trial should support the company's NDA submission for Epioxa by YE'24 (in-line with expectations). Management indicated that they have already completed a successful clinical pre-NDA meeting with the U.S. FDA, and we anticipate approval will likely fall in early Q4'25 (10-months post submission). We remain excited by Epi-on as it is a meaningful step up to the current SOC (Epi-on will preserve the corneal epithelium and reduce procedure times). While iDose remains the main driver of the stock at the moment, today’s update is further evidence that GKOS is evolving into a comprehensive ophthalmic provider. We reiterate our OW rating."

For an analyst ratings summary and ratings history on Glaukos Corporation click here. For more ratings news on Glaukos Corporation click here.

Shares of Glaukos Corporation closed at $128.20 yesterday.

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