Piper Sandler analyst Matt O’Brien notes that the Medicare Administrative Contractor WPS published its expected finalized MIGS local coverage decision, or LCD, which shows that the OMNI Surgical System is deemed investigational in glaucoma management. This is a “huge blow” to Sight Sciences’ (SGHT) major product and will “severely hinder” the ability for the company to grow their MIGS platform, the analyst tells investors. Conversely, Glaukos (GKOS) stands to benefit, said Piper, which has an Overweight rating and $90 price target on Glaukos shares and a Neutral rating and $5.50 price target on Sight Sciences shares.
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