Glaukos Reaches 52-Week High: What's Driving the Stock's Rally?

Stock Performance and Market Position - Glaukos Corporation's stock reached a new 52-week high of $155 76 on Jan 6, closing at$155 20 [1] - The stock has surged 89 3% over the past year, outperforming the industry's 6 4% rise and the S&P 500's 26 8% growth [1] - The company has a market capitalization of $8 56 billion [2] Financial Projections and Growth Drivers - Glaukos projects earnings growth of 16 7% for 2024 and 42 8% for 2025 [2] - Revenue is expected to grow 26 3% in 2025 [2] - The iStent portfolio significantly boosted glaucoma franchise revenues in the first nine months of 2024 [6] - The launch of iDose TR in Q2 2024 is enhancing revenue growth, with a permanent J-code effective July 1 likely to increase patient access and drive future sales [6] Product Portfolio and Pipeline - Glaukos submitted a New Drug Application (NDA) to the FDA for Epioxa (Epi-on), its next-generation corneal cross-linking iLink therapy for keratoconus [5] - The company is advancing its robust pipeline of novel, dropless platform technologies designed to improve outcomes for patients with chronic eye diseases [8][9] - The development of the iLink system using Epioxa therapy was delayed following a pre-NDA submission meeting in 2022 that recommended a second confirmatory study [10] International Market Expansion - Glaukos' international glaucoma franchise recorded 17% growth compared to the same period in 2023 [7] - The company sells products through subsidiaries in 17 countries and independent distributors in other markets [7] - International operations are expected to support long-term growth [7] Competitive Landscape - Glaukos faces stiff competition from medical companies, academic and research institutions, and other entities developing new drugs, therapies, medical devices, or surgical procedures for glaucoma [11] - Competitors include divisions of larger companies with greater resources and smaller companies targeting specific products or geographies [11] Industry Comparison - Cardinal Health, Inc (CAH) has a Zacks Rank 2 (Buy) and an estimated long-term growth rate of 10 2%, with shares gaining 13 8% compared to the industry's 1 2% growth [12][13] - ResMed Inc (RMD) has a Zacks Rank 2 and an estimated long-term growth rate of 14 8%, with shares gaining 36 1% compared to the industry's 8 5% growth [13] - Boston Scientific Corporation (BSX) has a Zacks Rank 2 and an estimated long-term growth rate of 13 8%, with shares rallying 56 3% compared to the industry's 8 5% growth [14]