Wells Fargo Believes Glaukos (GKOS) Won’t Stop Here

In a report released yesterday, Larry Biegelsen from Wells Fargo maintained a Buy rating on Glaukos (GKOS). The company’s shares closed yesterday at $67.86, close to its 52-week high of $70.91.

According to TipRanks.com, Biegelsen is a 5-star analyst with an average return of 17.8% and a 69.9% success rate. Biegelsen covers the Healthcare sector, focusing on stocks such as Edwards Lifesciences, Wright Medical Group, and Johnson & Johnson.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Glaukos with a $73 average price target.

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Based on Glaukos’ latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $6.62 million. In comparison, last year the company had a net profit of $1.01 million.

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Glaukos Corp. is an ophthalmic medical device company, which engages in the development and commercialization of surgical devices and sustained pharmaceutical therapies designed to treat glaucoma. Its Micro Invasive Glaucoma Surgery procedures are designed to reduce intraocular eye pressure by improving aqueous outflow through the natural physiologic pathway.

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