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GKOS

Glaukos

$60.73

-0.42 (-0.69%)

, AGN

Allergan

$160.81

3.045 (1.93%)

05:09
01/24/19
01/24
05:09
01/24/19
05:09

Piper values Glaukos pipeline at $60, says only $10 in shares today

Piper Jaffray analyst Matt O'Brien reiterates an Overweight rating on Glaukos (GKOS) with a 73 price target after conducting a deep dive on the company's pipeline. The analyst finds iDose most compelling, which he believes "unlocks a large market of more than 4 million eyes." The device is superior to competition, most notably Allergan's (AGN) Bimatoprost SR on the safety front, and will likely demonstrate greater device duration as well, O'Brien tells investors in a research note. Further, he views Supra as a favorable near-term risk/reward opportunity given the low expectations in the suprachoroidal space following the CyPass withdrawal. O'Brien values the entire Glaukos pipeline at $60 per share and believes only $10 is in the stock today.

GKOS

Glaukos

$60.73

-0.42 (-0.69%)

AGN

Allergan

$160.81

3.045 (1.93%)

  • 29

    Jan

  • 18

    May

  • 28

    May

GKOS Glaukos
$60.73

-0.42 (-0.69%)

10/29/18
PIPR
10/29/18
NO CHANGE
Target $73
PIPR
Overweight
Glaukos remains 'compelling' name that should be owned, says Piper Jaffray
Piper Jaffray analyst Matt O'Brien says feedback on Glaukos' (GKOS) iStent and Inject was again positive at this weekend's American Academy of Ophthalmology meeting. The products are "proving very safe and efficacious," O'Brien tells investors in a research note. Further, the analyst says he has not heard much, if any, commentary on a procedural slowdown of other microinvasive glaucoma surgery cases following the withdrawal of Novartis' (NVS) CyPass, which he believes should be a positive for Glaukos. O'Brien continues to view Glaukos as a "compelling med tech name that should be owned here." He keeps an Overweight rating on the shares with a $73 price target.
09/10/18
SPHN
09/10/18
NO CHANGE
Target $70
SPHN
Overweight
Glaukos price target raised to $70 from $57 at Stephens
Stephens analyst Chris Cooley raised his price target on Glaukos (GKOS) shares to $70 from $57 following talks with key opinion leaders and a review of the FDA MAUDE database. The KOL discussions and database review lead Cooley to conclude that the adverse event profile that lead Novartis (NVS) to withdraw the CyPass Micro-Stent is device specific and not indicative of a class issue and that Glaukos' long-term growth prospects and strategic value are both notably enhanced by the event. He maintains an Overweight rating on Glaukos shares.
09/05/18
BMOC
09/05/18
NO CHANGE
Target $68
BMOC
Market Perform
Glaukos price target raised to $68 from $59 at BMO Capital
BMO Capital analyst Joanne Wuensch raised her price target on Glaukos to $68 and also raised her FY18 revenue forecast to $177.1M from $165.5M while maintaining her Market Perform rating. The analyst cites her proprietary survey of benefits for the Glaukos product iStent coming from the cessation of Alcon's CyPass, with 24% of responding physicians noting that it represents a "class effect", 29% still undecided, and the remaining 48% suggesting that CyPass cessation is specific to the product. The analyst expects the market "dislocation" to continue until the FDA approval of Ivantis' Hydrus and Glaukos's launch of iStent Inject are absorbed, with limited upside in Glaukos stock anticipated for the next 4-6 months.
08/31/18
PIPR
08/31/18
NO CHANGE
Target $73
PIPR
Overweight
Glaukos price target raised to $73 from $55 at Piper Jaffray
Piper Jaffray analyst Matt O'Brien raised his price target for Glaukos (GKOS) to $73 and keeps an Overweight rating on the shares. After digging into the issue, the analyst believes the issue facing Novartis' (NVS) Alcon is specific to CyPass and not a minimally invasive glaucoma surgery "category killer." Given the design of Glaukos' iStent and where it is placed, the stent migration issue does not occur, so it does not encounter this issue at a level that can cause vision loss, O'Brien tells investors in a research note. Further, the analyst does not believe there is an easy fix for Alcon's CyPass. And even if the product does come back on the market, it will likely "face a major hurdle to overcome amongst clinicians," O'Brien contends. As such, he expects Glaukos to recapture the majority of its lost market share. The analyst keeps an Overweight rating on the shares.
AGN Allergan
$160.81

3.045 (1.93%)

01/08/19
PIPR
01/08/19
NO CHANGE
PIPR
Neutral
Allergan does not offer attractive risk/reward profile, says Piper Jaffray
In the absence of "transformational change," Allergan is not well positioned for value recovery "anytime soon," Piper Jaffray analyst David Amsellem tells investors in a research note. And senior management, at a recent investor conference, made it clear that it is not looking at transformational change, says Amsellem. He believes Allergan's commercial portfolio is facing "myriad headwinds" and continues to have concerns surrounding the extent to which the pipeline will contribute to its sales over time. The analyst does not believe Allergan shares represent an attractive risk/reward profile at current levels. He reiterates a Neutral rating on the name with a $164 price target.
01/02/19
01/02/19
DOWNGRADE
Target $39

Underweight
Morgan Stanley sees more underperformance for Hologic, downgrades to Underweight
As previously reported, Morgan Stanley analyst David Lewis downgraded Hologic (HOLX) to Underweight from Equal Weight, stating that his checks with about 40 medspas highlighted market saturation of body sculpting devices. This, coupled with Allergan's (AGN) recent announcement of discounting CoolSculpting to drive its installed base, suggests Hologic's acquisition of Cynosure may not be as accretive as expected, Lewis tells investors. Additionally, in the company's Surgical segment, he expects NovaSure will continue to lose share as procedures shift to the office where NovaSure is less popular given periprocedural pain. Given both of these views, Lewis views Hologic as less attractive relative to peers and cut his price target on the stock to $39 from $44.
12/20/18
WELS
12/20/18
NO CHANGE
WELS
Drug industry facing 'brave new world' with drug price scrutiny, says Wells
After Reuters reported that nearly 30 drugmakers are planning to raise the prices of their medicines in the U.S. starting in January, including Novartis (NVS), Bayer (BAYRY), GlaxoSmithKline (GSK), Amgen (AMGN), AstraZeneca (AZN), Biogen (BIIB) and Allergan (AGN), Wells Fargo analyst David Maris told investors in a research note that he has repeatedly highlighted how the practice of drug price increases is a risk for the industry, and believes the latest actions by these manufacturers will be "front and center" for the Trump administration heading towards an election year. He also expects to see increased political and legislative pressure on drug prices as Democrats take over the House in January, and continues to believe that the drug industry is facing a "brave new world" with greater scrutiny of drug prices, lower price increases vs. historical levels, and as a result potentially lower profit margins.
12/19/18
RAJA
12/19/18
NO CHANGE
Target $198
RAJA
Outperform
Selloff in Allergan shares 'overdone,' says Raymond James
Raymond James analyst Elliot Wilbur notes that the French regulatory authority ANSM has issued a communique indicating that Allergan's CE Mark for the company's line of textured breast implants sold in various European countries will not be renewed based on input from GMED, the official French medical device certification body. Allergan can no longer sell textured breast implants in France and other affected European markets, and the company has ceased sales and commenced a recall of all existing supply, he adds. The analyst acknowledges that this is a "surprise but certainly not an unknown." Further, Wilbur believes reaction is "overdone" and shares should be "aggressively accumulated" on the move. He reiterates an Outperform rating and $198 price target on the stock.

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, K

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KPTI

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KPTI

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$NSD

NASDAQ Market Internals

$0.00

(0.00%)

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