Gilbert H. Kliman, a director at Glaukos Corp (NYSE:GKOS), recently sold 10,000 shares of the company’s common stock. The company, with a market capitalization of $8.2 billion, has seen its stock surge nearly 87% year-to-date. The sale, which took place on December 20, 2024, was part of a pre-arranged trading plan under Rule 10b5-1, adopted in June 2024. The shares were sold at a weighted average price of $150.28, totaling approximately $1.5 million. According to InvestingPro, the stock is trading near its 52-week high of $151.92, suggesting strong momentum.
In a related transaction, Kliman also exercised stock options to acquire 10,000 shares at a price of $32 per share. Following these transactions, Kliman holds 32,336 shares directly, including 2,611 restricted stock units that have not yet vested. The transactions were filed with the SEC on December 23, 2024. InvestingPro subscribers can access 12 additional key insights about Glaukos Corp’s financial health and market performance through the comprehensive Pro Research Report.
In other recent news, Glaukos Corporation has submitted a New Drug Application to the FDA for Epioxa, a non-invasive treatment for keratoconus. If approved, Epioxa would be the first FDA-sanctioned, non-invasive corneal cross-linking therapy. In financial developments, Glaukos has secured approximately $53.2 million from unwinding a portion of its capped call transactions related to its 2.75% Convertible Senior Notes due in 2027.
Analyst firms have provided varied outlooks for Glaukos. Citi upgraded Glaukos from Neutral to Buy, expecting a positive inflection in sales of its iDose product in 2025. UBS initiated coverage on Glaukos with a Buy rating, attributing the company’s projected high-20% compound annual growth rate to the success of iDose. Mizuho (NYSE:MFG) Securities, however, retained a Neutral rating on Glaukos but increased the price target in anticipation of a significant year ahead for the company.
In related news, Procept BioRobotics initiated a public offering of common stock valued at $175 million and reported robust revenue growth of 66% in the third quarter. Morgan Stanley (NYSE:MS) initiated coverage on Procept BioRobotics with an Overweight rating, indicating a pathway for further upside. Truist Securities maintained a Buy rating on Procept BioRobotics, raising its price target following the company’s strong third-quarter performance.
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