On July 30, Glaukos rose 5.21% in regular trading, trading at $170.28/share, with turnover of $223 million. The stock surged after the company reported Q2 earnings that far exceeded market expectations.

Glaukos posted Q2 sales of $185.6 million, approximately 23% above the FactSet consensus estimate of $150.9 million. Adjusted loss per share narrowed to $0.14, beating the expected loss of $0.22 and improving from a $0.24 loss in the year-ago period. Additionally, the company raised its full-year sales guidance to $680 million-$700 million, well above the prior FactSet consensus of $630 million. This marks the second consecutive quarter of significant revenue outperformance, following Q1 sales of $150.6 million that also beat the $137 million estimate.

On the analyst front, Needham raised its price target to $201 from $150 while maintaining a Buy rating. Truist had previously lifted its target to $180 from $160 with a Buy rating. The FactSet average target now stands at $185.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)