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Investing.com - BTIG raised its price target on Glaukos Corporation (NYSE:GKOS) to $116.00 from $104.00 on Thursday, while maintaining a Buy rating following the company’s strong third-quarter results. The new target represents potential upside of 50% from the current price of $77.09, with InvestingPro data showing analyst targets ranging from $72 to $165. According to InvestingPro’s Fair Value assessment, the stock appears overvalued despite trading near its 52-week low.
Glaukos reported third-quarter revenue of $133.5 million, representing 38% year-over-year growth (37% excluding foreign exchange effects), which exceeded both BTIG and consensus estimates of $122.4 million. The company’s Glaucoma revenue reached $110.2 million, up 45% year-over-year, with iDose contributing approximately $40 million. This continues the company’s strong revenue trajectory, with InvestingPro data showing 26.7% revenue growth over the last twelve months and a 10% five-year revenue CAGR. However, the company remains unprofitable with negative EBITDA of $62.16 million.
The medical technology company raised its full-year 2025 guidance to a range of $490 million to $495 million, up from its previous forecast of $480 million to $486 million, citing continued strong demand for its iDose product.
Glaukos also provided preliminary guidance for fiscal year 2026, projecting revenue between $600 million and $620 million, which BTIG noted provides investors confidence in the company’s ability to navigate potential headwinds related to iDose.
Additionally, BTIG highlighted investor’s favorable reaction to Glaukos’ announced Wholesale Acquisition Cost (WAC) price of $78,500 for Epioxa, which is significantly higher than previous Photrexa pricing as the company positions Keratoconus treatment as an orphan indication with plans to launch throughout fiscal year 2026. Despite this positive development, investors should note the company’s high Price/Book ratio of 5.95 and that analysts do not anticipate profitability this year, with EPS forecast at -$0.88 for FY2025.
In other recent news, Glaukos Corp reported its third-quarter 2025 earnings, delivering results that exceeded analysts’ expectations. The company posted an earnings per share (EPS) of -$0.16, which was a significant improvement over the anticipated -$0.26, marking a 38.46% positive surprise. Additionally, Glaukos Corp’s revenue reached $133.5 million, surpassing the forecasted $122.47 million. This strong financial performance has garnered attention from investors and analysts alike. While there were no reported mergers or acquisitions, the earnings results remain a focal point for stakeholders. Analyst firms have not yet reported any upgrades or downgrades following these results. These recent developments highlight Glaukos Corp’s ability to outperform market expectations.
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