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Investing.com - Stifel has reiterated its Buy rating and $115.00 price target on Glaukos Corporation (NYSE:GKOS), currently trading at $74.67 and near its 52-week low. According to InvestingPro data, analysts maintain a bullish consensus with price targets ranging from $72 to $165, while suggesting the company’s Epioxa treatment could command significantly higher pricing than current market expectations.
In a research note, Stifel analyst Thomas Stephan indicated that physician checks suggest Epioxa pricing could potentially reach $30,000-$50,000, substantially above the Street’s current expectation of $6,000-$10,000.
The research firm, in collaboration with Stifel’s health economist, explored pricing and market access questions under this hypothetical higher price range and concluded that Glaukos could successfully execute this pricing strategy despite potential challenges, including physician resistance.
Stifel’s previous U.S. Photrexa/Epioxa sales projections assumed a $6,000 Epioxa ASP (average selling price), estimating 2026/2027/2028 sales of $66M/$81M/$106M, but a $40,000 ASP—even with significant volume reductions—could yield sales of $80M/$167M/$318M.
The firm noted that Epioxa at the higher price point could transform Glaukos into a 30%+ revenue growth company for several years, compared to its current impressive revenue growth of 26.7% over the last twelve months. With an overall "GOOD" financial health score from InvestingPro, the Corneal Health segment could potentially contribute 14 and 18 percentage points to total company revenue growth in 2027 and 2028, respectively.
In other recent news, Glaukos Corporation reported record second-quarter net sales of $124.1 million, reflecting a 30% increase compared to the previous year. The company also raised its full-year 2025 net sales guidance to a range between $480 million and $486 million. Additionally, Glaukos received U.S. Food and Drug Administration approval for Epioxa, an incision-free topical drug therapy for keratoconus, which marks a significant advancement in treatment options. Meanwhile, investors are concerned about an upcoming Medicare Contractor Advisory Committee meeting that could impact reimbursement for Glaukos’s iDose product. The meeting, scheduled for November 12, will discuss the "Implantation of Anterior Segment Intraocular Nonbiodegradable Drug-eluting System." These developments highlight both positive strides in product innovation and potential challenges in reimbursement policies for Glaukos.
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