Glaukos (NYSE:GKOS) is down 5% premarket, albeit on only 934 shares, on the heels of a downgrade to Hold with a $32 (4% upside) price target (from $39) at Stifel.
Analyst Jonathan Block says the company's market share in micro-invasive glaucoma surgery (iStent) may not stabilize citing the competitive threat from Invantis' Hydrus Microstent.
Hydrus is an elastic intracanalicular scaffold that is placed in the Schlemm's canal of the eye to open the channel allowing blocked fluid to flow more freely thereby reducing intraocular pressure.
He has lowered his 2019 revenue target to $178M versus consensus of ~$190M.
Subscribe for full text news in your inbox