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GKOS

Glaukos

$59.51

14.72 (32.86%)

, NVS

Novartis

$83.75

-0.03 (-0.04%)

12:02
08/29/18
08/29
12:02
08/29/18
12:02

JPMorgan upgrades Glaukos after 'main competitor' pulls product

As previously reported, JPMorgan analyst Robert Marcus upgraded Glaukos (GKOS) to Overweight from Neutral, calling Alcon's (NVS) voluntary withdrawal of its micro-stent from the market a "significant win" that opens up an opportunity for Glaukos to take back principally all of the sales being generated by CyPass. Stating that he's always been a firm believer in Glaukos' pipeline and technology, Marcus said competition had been the main factor keeping him on the sidelines. Now that its "main competitor" is out of the way, he sees Glaukos having a meaningful opportunity to recapture share and lead the market. Marcus raised his price target on the stock to $75 from $42.

GKOS

Glaukos

$59.51

14.72 (32.86%)

NVS

Novartis

$83.75

-0.03 (-0.04%)

  • 05

    Sep

  • 12

    Sep

GKOS Glaukos
$59.51

14.72 (32.86%)

08/29/18
PIPR
08/29/18
NO CHANGE
Target $55
PIPR
Overweight
Piper sees CyPass withdrawal as 'major boon' for Glaukos, ups target to $55
Piper Jaffray analyst Matt O'Brien views Alcon's immediate withdrawal of its CyPass stent for the treatment of glaucoma on safety concerns from a recently completed clinical study as a "major boon" for Glaukos (GKOS). The analyst suspects it will be several quarters before CyPass comes back to the market, with with a much narrower indication. This is a "major positive" for Glaukos as most of the clinicians using CyPass had been or are still using iStent from Glaukos, O'Brien tells investors in a research note. He anticipates many clinicians will quickly shift their volumes back to iSten, yielding "significant incremental revenues." Based on this morning's news, the analyst raised his price target for Glaukos shares to $55 from $46. He encourages investors to start or build positions in the name.
08/29/18
SPHN
08/29/18
NO CHANGE
Target $57
SPHN
Overweight
Glaukos price target raised to $57 at Stephens after Novartis withdraws CyPass
Stephens analyst Chris Cooley raised his price target on Glaukos (GKOS) shares to $57 from $50 after Novartis' (NVS) Alcon unit withdrew the CyPass micro-stent from the market due to safety concerns. He estimates $40M-$50M in annual sales are now "in play" and see Glaukos as the most likely beneficiary, Cooley tells investors. He maintains an Overweight rating on Glaukos shares, which are up $17.35, or 39%, to $62.15 in pre-market trading.
08/29/18
JPMS
08/29/18
UPGRADE
JPMS
Overweight
Glaukos upgraded to Overweight from Neutral at JPMorgan
NVS Novartis
$83.75

-0.03 (-0.04%)

08/29/18
WBLR
08/29/18
NO CHANGE
WBLR
Outperform
CyPass market removal a 'clear positive' for Glaukos, says William Blair
William Blair analyst Brian Weinstein believes Alcon's voluntary global market withdrawal of its CyPass Micro-Stent for surgical glaucoma is a "clear positive for near-term numbers" at Glaukos (GKOS). If Glaukos' iStent takes all of the CyPass market share while it is off the market, the company could add as much as $50M in the U.S. alone to its 2019 total revenue of around $186M, Weinstein tells investors in a research note, while admitting this is a bullish stance. The analyst thinks the news this morning from Alcon should be viewed as a positive for Glaukos, as a major part of the short thesis was on competition in the core iStent market, mainly from Alcon. He keeps an Outperform rating on Glaukos shares.

TODAY'S FREE FLY STORIES

PIR

Pier 1 Imports

$1.80

0.045 (2.56%)

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MU

Micron

$46.06

1.01 (2.24%)

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ACXM

Acxiom

$50.28

2.09 (4.34%)

, IPG

Interpublic Group

$22.68

0.315 (1.41%)

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$50.28

2.09 (4.34%)

IPG

Interpublic Group

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0.315 (1.41%)

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IPCI

Intellipharmaceutics

$2.92

0.15 (5.42%)

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NOC

Northrop Grumman

$301.53

-10.71 (-3.43%)

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YUM

Yum! Brands

$88.96

0.39 (0.44%)

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17:25
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Conference/Events
SEC to hold an investor roundtable »

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FSCT

ForeScout

$39.56

1.2 (3.13%)

17:24
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  • 10

    Dec

MU

Micron

$46.06

1.01 (2.24%)

17:23
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CWK

Cushman & Wakefield

$18.00

0.37 (2.10%)

17:21
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Cushman & Wakefield arranges $55M sale of a Whole Foods property »

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ACAD

Acadia

$19.08

3.97 (26.27%)

17:17
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Acadia issues states affirming positive risk profile of NUPLAZID »

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  • 01

    Oct

UNFI

United Natural Foods

$33.83

0.54 (1.62%)

17:16
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United Natural Foods plunges after Q4 margins fall to 14.5% »

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MDXG

MiMedx

$6.18

0.68 (12.36%)

17:15
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  • 09

    Oct

MDXG

MiMedx

$6.18

0.68 (12.36%)

17:15
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  • 09

    Oct

UTX

United Technologies

$141.91

1.41 (1.00%)

17:11
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United Technologies awarded $2.46B Department of Defense contract modification »

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NEXA

Nexa Resources

$11.89

0.1 (0.85%)

17:10
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Nexa Resources authorizes $30M share buyback program »

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AT

Atlantic Power

$2.15

-0.025 (-1.15%)

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Atlantic Power to acquire two biomass plants in South Carolina for $13M »

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VNDA

Vanda Pharmaceuticals

$20.00

0.4 (2.04%)

17:05
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  • 01

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WRD

WildHorse Resource

$21.31

-0.12 (-0.56%)

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  • 24

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RDS.A

Royal Dutch Shell

$66.83

0.57 (0.86%)

, RDS.B

Royal Dutch Shell

$68.85

0.56 (0.82%)

17:02
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Periodicals
Shell in discussions to sell $1.3B in Gulf Coast assets, Bloomberg says »

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RDS.A

Royal Dutch Shell

$66.83

0.57 (0.86%)

RDS.B

Royal Dutch Shell

$68.85

0.56 (0.82%)

APC

Anadarko

$63.86

-0.88 (-1.36%)

EQNR

Equinor

$26.45

-0.09 (-0.34%)

CVX

Chevron

$119.46

-0.04 (-0.03%)

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MU

Micron

$46.06

1.01 (2.24%)

17:02
09/20/18
09/20
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17:02
Earnings
Micron sees Q1 EPS $2.95, +/- 7c, consensus $2.73 »

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AL

Air Lease

$45.80

0.09 (0.20%)

, EADSY

Airbus

$0.00

(0.00%)

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Air Lease announces delivery of Airbus A320-200neo aircraft with SKY »

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AL

Air Lease

$45.80

0.09 (0.20%)

EADSY

Airbus

$0.00

(0.00%)

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  • 20

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MU

Micron

$46.06

1.01 (2.24%)

16:52
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PMBC

Pacific Mercantile Bancorp

$9.75

0.025 (0.26%)

16:50
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  • 07

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MU

Micron

$46.06

1.01 (2.24%)

16:46
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