Glaukos Corporation (GKOS) PT Lowered to $100 at JPMorgan

JPMorgan analyst Allen Gong lowered the price target on Glaukos Corporation (NYSE: GKOS) to $100.00 (from $160.00) while maintaining a Overweight rating.

The analyst comments "Glaukos’ 1Q25 results were a mixed bag – on the one hand, overall revenues beat conservative Street expectations, but on the other, iDose sales of ~$21M likely came in a step below investor expectations. The latter dynamic is likely to dominate discourse following the print, unsurprisingly, as the quarter represents a sequential deceleration in growth on a dollar basis only a few quarters into the launch. Seasonal weakness can explain some of this, but the more important bottleneck for adoption stems from the slower rate of MAC coverage wins that continues to limit adoption. While J-Code adjudication has become more streamlined at the majority of MACs, close to all of today’s volumes are being driven by the few MACs that have also updated their pro-fee schedules for 0660T. The more measured pace of adoption is likely to frustrate investors that reasonably expected to see a more consistent ramp into a hockey-stick inflection later this year, but we continue to think it’s a question of “when” iDose begins to inflect and not “if” given the healthy adoption we’ve seen when MACs have full coverage, a positive preview for future growth."

You May Also Be Interested In

• Winnebago Industries refinances credit facility, extends maturity to 2031
• Viking Holdings (VIK) PT Raised to $82 at Mizuho
• Advance Auto Parts (AAP) PT Lowered to $48 at DA Davidson Following 25% Selloff Post Q2 Results