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.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on SGHT:
- Disaster for Sight Services (NASDAQ:SGHT): Shares Fall on Medicare Concerns
- Sight Sciences Announces Presentation of Successful Phase I Results of the SAHARA Randomized Controlled Clinical Trial Comparing TearCare® to Restasis® for the Treatment of Dry Eye Disease at the American Academy of Optometry Annual Meeting
- Sight Sciences Announces New, Large-Scale MIGS Data from 41st Congress of ESCRS Demonstrating TCOR™ Using OMNI® Surgical System Technology is Effective at Lowering Both IOP and IOP Reducing Medications at 2 Years in Patients with Glaucoma
- Sight Sciences announces large-scale MIGS data
- Needham medtech/diagnostics analysts hold analyst/industry conference call
