Glaukos Corp (GKOS) was Reiterated by Cantor Fitzgerald to “Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 41 from a previous price target of $35 . Cantor Fitzgerald advised their investors in a research report released on Aug 2, 2016.
Many Wall Street Analysts have commented on Glaukos Corp. Cantor Fitzgerald Initiated Glaukos Corp on Jun 3, 2016 to “Buy”, Price Target of the shares are set at $35.
On the company’s financial health, Glaukos Corp reported $0.06 EPS for the quarter, beating the analyst consensus estimate by $ 0.10 according to the earnings call on Aug 1, 2016. Analyst had a consensus of $-0.04. The company had revenue of $28.60 million for the quarter, compared to analysts expectations of $24.45 million. The company’s revenue was up 60.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-1.30 EPS.
Glaukos Corp opened for trading at $34.83 and hit $35.36 on the upside on Friday, eventually ending the session at $34.96, with a gain of 0.60% or 0.21 points. The heightened volatility saw the trading volume jump to 2,80,729 shares. Company has a market cap of $1,137 M.
In a different news, on Jul 27, 2016, Richard L Harrison (Treasurer, CFO & Secretary) sold 10,000 shares at $35.01 per share price. According to the SEC, on Jul 13, 2016, Thomas William Burns (Chief Executive Officer) sold 162,254 shares at $30.03 per share price. On Jun 16, 2016, Chris M. Calcaterra (Chief Commercial Officer) sold 45,464 shares at $28.46 per share price, according to the Form-4 filing with the securities and exchange commission.
Glaukos Corporation (Glaukos) is an ophthalmic medical technology company. The Company is engaged in the development and commercialization of products and procedures for the treatment of glaucoma. Glaukos has developed the micro-invasive glaucoma surgery (MIGS) for glaucoma treatment. It offers iStent an MIGS device measuring one millimeter long and 0.33 millimeter wide. MIGS procedures involve the insertion of a micro-scale device from within the eye’s anterior chamber through a small corneal incision. Glaukos is also engaged in developing a portfolio of micro-scale injectable therapies including three pipeline products namely the iStent Inject the iStent Supra and iDose. The iStent Inject includes two stents pre-loaded in an auto-injection inserter. The iStent Supra is designed to access an alternative drainage space within the eye. iDose is an implant that is designed to provide a sustained release of a prostaglandin drug to lower intraocular pressure in glaucoma patients.