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Fly News Breaks for October 24, 2019
AGN, GKOS
Oct 24, 2019 | 08:29 EDT
Stephens analyst Chris Cooley noted Allergan's (AGN) initiation earlier this week of a voluntary recall of affected lots of XEN 45 and precautionary temporary product hold. Though XEN usage is reserved for moderate to severe cases of POAG, the "unfortunate" temporary hold may create additional opportunities for Glaukos (GKOS) to train and convert glaucoma specialists to iStent inject, contends Cooley. The analyst, who said he remains confident in Glaukos' ability to achieve low-teens percentage MIGS growth in calendar 2020, keeps an Overweight rating on Glaukos shares.
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