Glaukos Corporation (NYSE:GKOS)‘s stock had its “buy” rating restated by analysts at Cantor Fitzgerald in a report issued on Thursday. They presently have a $60.00 target price on the medical instruments supplier’s stock. Cantor Fitzgerald’s price objective suggests a potential upside of 45.17% from the company’s previous close.

The analysts wrote, “Numbers out of the Way. Yes, 2Q17 revenue growth was impacted several factors: implementation of updated rates and commercial private payers (20% of the market) and sampling by a competitor. Yes, unfortunately these headwinds will remain in place for the rest of the year, coupled with the impact of the hurricanes (TX and FL represents 7% of overall sales). Accordingly, we have lowered our 2017 revenue estimate from $167 million to $158 million. If nothing else happened today, we would perhaps understand the outsized negative reaction (stock is down ~20% intraday).””

GKOS has been the topic of a number of other research reports. BidaskClub downgraded Glaukos Corporation from a “hold” rating to a “sell” rating in a research report on Saturday, August 26th. Zacks Investment Research raised Glaukos Corporation from a “hold” rating to a “strong-buy” rating and set a $48.00 price objective on the stock in a research report on Tuesday, July 4th. Roth Capital dropped their price objective on Glaukos Corporation from $60.00 to $54.00 and set a “buy” rating on the stock in a research report on Thursday, August 3rd. Finally, BMO Capital Markets reaffirmed a “buy” rating and set a $54.00 price objective on shares of Glaukos Corporation in a research report on Friday, September 1st. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $53.33.

Glaukos Corporation (GKOS) traded down 18.12% during trading on Thursday, hitting $33.84. The stock had a trading volume of 6,097,137 shares. The stock’s market capitalization is $1.17 billion. The stock’s 50-day moving average is $41.39 and its 200-day moving average is $44.68. Glaukos Corporation has a 52-week low of $28.72 and a 52-week high of $52.49.

TRADEMARK VIOLATION NOTICE: “Glaukos Corporation (GKOS) Receives Buy Rating from Cantor Fitzgerald” was reported by Daily Political and is the sole property of of Daily Political. If you are viewing this news story on another website, it was stolen and reposted in violation of US & international copyright and trademark legislation. The legal version of this news story can be accessed at https://www.dailypolitical.com/2017/09/14/glaukos-corporation-gkos-receives-buy-rating-from-cantor-fitzgerald.html.

In other Glaukos Corporation news, Director Orbimed Advisors Llc sold 580,200 shares of the stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $38.73, for a total value of $22,471,146.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Thomas William Burns sold 1,212 shares of the stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $41.25, for a total value of $49,995.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 980,200 shares of company stock valued at $37,900,263. 16.40% of the stock is currently owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the business. Great West Life Assurance Co. Can purchased a new stake in Glaukos Corporation in the first quarter valued at about $102,000. Ameritas Investment Partners Inc. raised its stake in Glaukos Corporation by 93.1% in the second quarter. Ameritas Investment Partners Inc. now owns 2,514 shares of the medical instruments supplier’s stock valued at $104,000 after buying an additional 1,212 shares during the last quarter. BNP Paribas Arbitrage SA raised its stake in Glaukos Corporation by 740.6% in the second quarter. BNP Paribas Arbitrage SA now owns 3,539 shares of the medical instruments supplier’s stock valued at $147,000 after buying an additional 3,118 shares during the last quarter. Prudential Financial Inc. purchased a new stake in Glaukos Corporation in the first quarter valued at about $204,000. Finally, Los Angeles Capital Management & Equity Research Inc. purchased a new stake in Glaukos Corporation in the second quarter valued at about $262,000.

Glaukos Corporation Company Profile

Glaukos Corporation is an ophthalmic medical technology company. The Company focuses on the development and commercialization of products and procedures for the treatment of glaucoma. It offers iStent, a micro-invasive glaucoma surgery (MIGS) device. The iStent is a micro-bypass stent inserted through the small corneal incision made during cataract surgery and placed into Schlemm’s canal, a circular channel in the eye that collects aqueous humor and delivers it back into the bloodstream.

Analyst Recommendations for Glaukos Corporation (NYSE:GKOS)

Receive News & Ratings for Glaukos Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Glaukos Corporation and related companies with MarketBeat.com's FREE daily email newsletter.