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Investing.com - Truist Securities has reiterated a Buy rating and $120.00 price target on Glaukos Corporation (NYSE:GKOS) following the company’s strong third-quarter performance. The target represents a 24% upside from the current price of $97.02, though InvestingPro data suggests the stock may be trading above its Fair Value.
The medical technology company reported third-quarter iDose revenue of approximately $40 million, exceeding Truist’s estimate of $34 million, contributing to an overall quarterly beat and raised guidance. This performance aligns with Glaukos’s impressive revenue growth of 26.7% over the last twelve months, despite the company not being profitable during this period.
Glaukos’s Epioxa product demonstrated an average selling price of $78,000, significantly higher than expected, which Truist believes provides greater confidence in the achievability of the company’s 2026 revenue guidance.
The strong Epioxa pricing reduces pressure on iDose to achieve the projected 25%+ revenue growth for 2026-2027, even if the upcoming November 12 Contractor Advisory Committee meeting results in more restrictive usage guidelines for iDose.
Truist views the combination of different Epioxa and iDose scenarios as increasing confidence that Glaukos can maintain a premium long-term revenue growth profile of 25-30%+ despite recent iDose reimbursement uncertainty.
In other recent news, Glaukos Corporation reported impressive third-quarter 2025 earnings, with revenue reaching $133.5 million, which surpassed the forecast of $122.47 million. This represents a 38% increase year-over-year, or 37% excluding foreign exchange effects. The company’s iDose product significantly contributed to this performance, bringing in approximately $40 million. As a result of these strong earnings, Glaukos management has increased its revenue guidance for the remainder of 2025.
Following these results, Needham raised its price target for Glaukos to $117, maintaining a Buy rating. Similarly, BTIG increased its price target from $104 to $116, also keeping a Buy rating. Both firms highlighted the strong third-quarter results as a key factor in their decision. Glaukos’s Glaucoma revenue reached $110.2 million, marking a 45% growth compared to the previous year. Additionally, the company beat its EPS forecast, posting -$0.16 against an expected -$0.26, resulting in a 38.46% positive surprise.
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