It's time to buy Glaukos ahead of some "exciting" product launches, Piper Sandler said.
Analyst Matt O'Brien upgraded Glaukos to overweight, saying investors are overlooking the potential in its treatments for glaucoma, corneal disorders and retinal diseases — namely, iDose and iStent.
GKOS 1D mountain Glaukos shares 1-day Glaukos shares are outstripping the major benchmarks this year, climbing 52% in 2023, while the S & P 500 is up 11%.
Regardless, the analyst's $80 price target suggests shares have further to climb — more than 23% from Tuesday's closing price of $64.82.
In particular, he called iDose the "most exciting" launch in midcap medtech, as he expects the treatment will be quickly adopted.
Persons:
Piper Sandler, Matt O'Brien, O'Brien, Michael Bloom
Locations:
midcap