Wells Fargo & Company Raises Glaukos (NYSE:GKOS) Price Target to $92.00

Key Points

• Wells Fargo & Company has raised Glaukos' price target from $86.00 to $92.00, indicating a potential upside of 7.26% from its current stock price.
• Various analysts have differing views on Glaukos, with price targets ranging from $72.00 to $165.00, and an overall consensus rating of "Moderate Buy".
• Glaukos reported a revenue increase of 29.7% year over year, with earnings per share at ($0.24), surpassing analysts' expectations of ($0.26).

Glaukos (NYSE:GKOS - Get Free Report) had its target price raised by stock analysts at Wells Fargo & Company from $86.00 to $92.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has an "equal weight" rating on the medical instruments supplier's stock. Wells Fargo & Company's price objective would suggest a potential upside of 7.26% from the company's current price.

GKOS has been the topic of a number of other research reports. Stephens cut their price target on shares of Glaukos from $140.00 to $115.00 and set an "overweight" rating on the stock in a research note on Friday, May 2nd. UBS Group raised their price target on shares of Glaukos from $125.00 to $134.00 and gave the stock a "buy" rating in a research report on Thursday. Piper Sandler lowered their target price on shares of Glaukos from $180.00 to $165.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 15th. BTIG Research restated a "buy" rating on shares of Glaukos in a research report on Monday, July 14th. Finally, Morgan Stanley reduced their price objective on shares of Glaukos from $110.00 to $72.00 and set an "underweight" rating for the company in a research note on Tuesday, May 6th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $127.42.

Glaukos Stock Performance

NYSE GKOS traded down $8.27 during trading on Thursday, reaching $85.78. The company's stock had a trading volume of 2,427,643 shares, compared to its average volume of 938,338. The company has a debt-to-equity ratio of 0.09, a quick ratio of 5.62 and a current ratio of 6.49. The firm has a market cap of $4.90 billion, a price-to-earnings ratio of -35.87 and a beta of 0.82. Glaukos has a twelve month low of $77.10 and a twelve month high of $163.71. The business's fifty day moving average price is $98.44 and its 200-day moving average price is $109.49.

Glaukos (NYSE:GKOS - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The medical instruments supplier reported ($0.24) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.26) by $0.02. Glaukos had a negative net margin of 31.40% and a negative return on equity of 10.66%. The business had revenue of $124.12 million for the quarter, compared to analyst estimates of $115.49 million. During the same period in the previous year, the business posted ($0.52) earnings per share. The business's revenue was up 29.7% compared to the same quarter last year. As a group, analysts anticipate that Glaukos will post -1.08 EPS for the current fiscal year.

Institutional Investors Weigh In On Glaukos

Institutional investors and hedge funds have recently bought and sold shares of the company. Bessemer Group Inc. lifted its stake in Glaukos by 133.9% during the 1st quarter. Bessemer Group Inc. now owns 276 shares of the medical instruments supplier's stock valued at $27,000 after acquiring an additional 158 shares in the last quarter. Whipplewood Advisors LLC raised its position in shares of Glaukos by 3,957.1% in the 1st quarter. Whipplewood Advisors LLC now owns 284 shares of the medical instruments supplier's stock worth $28,000 after purchasing an additional 277 shares during the last quarter. First Horizon Advisors Inc. raised its position in Glaukos by 72.9% in the 1st quarter. First Horizon Advisors Inc. now owns 377 shares of the medical instruments supplier's stock worth $37,000 after buying an additional 159 shares during the last quarter. Versant Capital Management Inc lifted its holdings in Glaukos by 583.9% during the first quarter. Versant Capital Management Inc now owns 383 shares of the medical instruments supplier's stock valued at $38,000 after purchasing an additional 327 shares in the last quarter. Finally, Park Place Capital Corp boosted its stake in Glaukos by 68.4% in the 2nd quarter. Park Place Capital Corp now owns 399 shares of the medical instruments supplier's stock worth $41,000 after purchasing an additional 162 shares during the period. Institutional investors own 99.04% of the company's stock.

About Glaukos

Glaukos Corporation, an ophthalmic pharmaceutical and medical technology company, focuses on the development of novel therapies for the treatment of glaucoma, corneal disorders, and retinal diseases. It offers iStent and iStent inject W micro-bypass stents that enhance aqueous humor outflow inserted in cataract surgery to treat mild-to-moderate open-angle glaucoma.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.