Glaukos Corporation (GKOS) stock is experiencing a significant pre-market plunge of 8.74% on Thursday, as multiple Wall Street analysts have cut their price targets for the company.
JP Morgan made the most drastic reduction, lowering its target price for Glaukos from $160 to $100. This was followed by Needham, which cut its price target from $176 to $115, and Truist Securities, which reduced its target from $140 to $135. These substantial downgrades from respected financial institutions have likely triggered a sell-off among investors, leading to the sharp decline in Glaukos's stock price.
While the specific reasons behind these target price cuts were not provided in the available news, such actions by analysts often reflect concerns about a company's future performance, competitive position, or broader market conditions. Investors will be closely watching for any further information or guidance from Glaukos or additional analyst reports to better understand the factors driving this negative sentiment.
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