2023-06-08 14:19:02 ET
A regional Medicare contractor in the Southeast has issued a draft policy to cover medical devices marketed by Glaukos Corporation ( NYSE: GKOS ) to treat adults with glaucoma, according to a Bloomberg report on Thursday.
The shares of Aliso Viejo, California-based Glaukos ( GKOS ) extended gains for the eighth straight session after the news to approach a two-year high, albeit on below-average volumes.
Piper Sandler analyst Matt O’Brien argued that the proposal was a “positive update” for Glaukos ( GKOS ), which offers Micro-Invasive Glaucoma Surgery (MIGS) device, an alternative to traditional glaucoma treatments.
On Wednesday, O’Brien upgraded GKOS to Buy from Neutral with a price target of $80 per share. Despite the recent rally in company shares, Street has yet to fully recognize the upcoming launches Glaukos ( GKOS ) has lined up, the analyst pointed out.
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Glaukos said to have won regional Medicare coverage for glaucoma devices