Glaukos (GKOS) Stock Forecast & Price Target

Glaukos Corp has demonstrated a strong financial performance in its glaucoma segment, achieving $110 million in revenue during 3Q25, surpassing consensus estimates and reflecting a 45% growth year-over-year. The company's operating margin improved significantly to (7.0%), representing a notable increase of 1,210 basis points compared to the previous year, and also exceeding consensus expectations. Furthermore, the Corneal Health segment has shown robust growth with a compound annual growth rate (CAGR) of approximately 15.2% since 2020, indicating sustained momentum and potential for future revenue increases, particularly with anticipated higher utilization rates for Epioxa through 2028.

Glaukos Corp is currently facing challenges that are likely to negatively impact its financial outlook, particularly in terms of its commercialization and growth trajectory. The company's growth rates in the Corneal Health segment have shown a declining trend, averaging around 8.9% globally and 9.9% in the US over the last three years, which raises concerns about future revenue potential. Furthermore, anticipated decreases in sales for its Epioxa product and legacy surgical glaucoma devices, alongside increased competition and a potentially unfavorable reimbursement landscape, suggest that the company may struggle to meet growth expectations moving forward.