Glaukos (GKOS)
Develops implantable glaucoma therapies and corneal cross-linking treatments.
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Sells iStent micro-bypass devices, iDose TR sustained-release glaucoma implants, and iLink corneal cross-linking therapies through direct sales and distributors. Most revenue comes from glaucoma products and U.S. customers, while adoption depends on regulatory approval, reimbursement, and ophthalmologist use.
Develops and commercializes ophthalmic devices and procedural pharmaceuticals for glaucoma and corneal disease, with retinal and anterior-segment drug-delivery programs in development. The commercial portfolio combines the iStent family of micro-bypass devices, the iDose TR intracameral glaucoma implant, and iLink corneal cross-linking therapies. The corneal franchise is shifting from Photrexa to Epioxa, an epithelium-on treatment for keratoconus.
Most sales come from glaucoma products, and the United States provides most revenue. Products reach ophthalmic surgeons through a direct U.S. sales force, international subsidiaries, and distributors. Commercial execution centers on surgeon training, direct selling, and securing procedural reimbursement.
Operates as one segment. Commercial results depend on regulatory approvals, payer coverage, physician uptake, and product supply. Implanted products are concentrated at one California manufacturing campus, while corneal pharmaceuticals rely on a small group of contract manufacturers.
Company facts
Target rangeAs of Sep 21, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Sep 22, 2026 | Jefferies | Reiterate | Rating: —Target: $155 | Target: $210 |
| Aug 20, 2026 | BTIG | Reiterate | Rating: —Target: $164 | Target: $202 |
| Jul 30, 2026 | H.C. Wainwright | Reiterate | Rating: —Target: $168 | Target: $195 |
| Jul 30, 2026 | Stifel Nicolaus | Target | Target: $170 | Target: $190 |
| Jul 30, 2026 | Piper Sandler | Reiterate | Rating: —Target: $165 | Target: $195 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $286.2M · Total debt $102.8M · Total assets $920.5M · Shareholders' equity $682.5M
- Revenue
- $185.6M
- Operating income
- −$17.3M
- Net income
- −$18.4M
No dividends on record.
| Institutions | ≈ 103.43% | 61.01M shares | |
|---|---|---|---|
| 379 holders · as of Jun 30, 2026 · largest filers plus last quarter's tail | |||
| Insiders | 2.90% | 1.71M shares | |
| 11 holders · as of Sep 18, 2026 | |||
| Strategic holders | 9.07% | 5.35M shares | |
| 1 holder · as of May 15, 2026 | |||
| Adds to | 115.40% | ||
58.98M company shares as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
This quarter's institutional total failed a plausibility check; shown: the largest filers plus last quarter's remainder.
These groups come from separate filings that can overlap, so they add to 115.40%; nothing is left for Other.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
BlackRock, Inc.Institution | 16.17% | 9.54M | as of Jun 30, 2026 |
Janus Henderson Group PLCStrategic | 9.07% | 5.35M | filed May 15, 2026 |
Jupiter Topco LLCInstitution | 8.24% | 4.86M | as of Jun 30, 2026 |
Vanguard Portfolio Management LLCInstitution | 5.63% | 3.32M | as of Jun 30, 2026 |
Primecap Management Co/CA/Institution | 5.16% | 3.04M | as of Jun 30, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Sep 16, 2026 | Tomas Navratil | officer: CHIEF DEVELOPMENT OFFICER | −1,457 | $166.92 |
| Aug 28, 2026 | Tomas Navratil | officer: CHIEF DEVELOPMENT OFFICER | −13,744 | $180.67 |
| Aug 19, 2026 | Gilbert H. Kliman | director | −2,500 | $190.00 |
| Aug 11, 2026 | Joseph E. Gilliam | officer: PRESIDENT & COO | −60,000 | $179.74 |
| Aug 7, 2026 | Alex R. Thurman | officer: SVP & CHIEF FINANCIAL OFFICER | −20,000 | $180.13 |
- Alcon
Direct MIGS device rival through Hydrus Microstent
- AbbVie
Main drug-delivery rival to iDose TR
- Sight Sciences
Implant-free MIGS rival in interventional glaucoma
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Glaukos | $161.44 | −0.06% | $9.53B | — | 1,260.2 | 15.5 | +49.5% |
| Alcon | $65.41 | +0.82% | $31.64B | 49.9 | 17.2 | 2.9 | +7.5% |
| AbbVie | $265.87 | +0.53% | $467.37B | 74.5 | 17.5 | 7.3 | +10.2% |
| Sight Sciences | $8.62 | +1.53% | $461.9M | — | — | 5.5 | +19.6% |
| Median | 62.2 | 17.4 | 5.5 | +10.2% |