Glaukos upgraded to Overweight from Neutral at JPMorgan

JPMorgan upgraded Glaukos to Overweight from Neutral with a price target of $91, up from $66. Anticipation for iDose and a string of positive reimbursement wins helped shares stay “incredibly resilient” against GLP-1 fears that negatively impacted the rest of the sector in 2023, notes the analyst, who sees the biggest driver to watch going forward as iDose. It is “hard not to stay bullish on the company’s outlook” as it’s set to benefit from initial uptake of iDose at a much higher average selling price than previously contemplated, the analyst tells investors.