Glaukos said to have won regional Medicare coverage for glaucoma devices

• 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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