Glaukos upgraded to Buy from Hold at Jefferies

Jefferies analyst Michael Sarcone upgraded Glaukos to Buy from Hold with a price target of $125, up from $84. The firm cites positive survey takes which showed healthy doctor volume and use expectations for iDose for the upgrade. The analyst sees opportunity for an iDose-driven sales growth inflection in the near-term, using conservative assumptions, along with durability in the core glaucoma and corneal franchises. Jefferies expects “healthy” iDose uptake to support Glaukos’ sales growth acceleration in 2025 and 2026, along with positive trends in the base glaucoma and a stable corneal health businesses.