Glaukos rises after Mizuho upgrades rating to 'outperform'

Glaukos

19/02/2025 13:01

** Shares of medtech firm Glaukos Corp  GKOS.N  rise 3.3% to
$158 premarket
    ** Brokerage Mizuho upgrades rating on GKOS to "outperform"
from "neutral", citing its "disruptive potential" in the US
glaucoma market
    ** Also raises PT to $200 from $140; representing a 30.8%
upside to the stock's last close
    ** Brokerage says it believes iDose has a "substantial lead"
in the drug-device combo setting and can drive up to $7 in
adjusted EPS by 2030
    ** iDose is a device that helps lower eye pressure in people
with glaucoma, a disease that damages the optic nerve, by slowly
releasing medicine
    ** Expects iDose sales to reach over $1 bln by 2029, driven
by a "favorable US adoption cycle with expanded coverage over
the next several years"
    ** Says iDose has a unique advantage over competing
products, such as Abbvie's  ABBV.N  Durysta implant, due to its
"reservoir design that allows for continuous drug elution up to
3 years"
    ** GKOS gained 94.6% in 2024

 (Reporting by Kamal Choudhury in Bengaluru)
 ((Kamal.Choudhury@thomsonreuters.com;))