On July 30, Glaukos rose 6.33% overnight, trading at $171.9/share. The company released its second-quarter earnings after market close, with both revenue and full-year guidance substantially exceeding Wall Street estimates, serving as the core catalyst for the stock's surge.

Glaukos reported Q2 adjusted loss of $0.14 per share, beating the analyst consensus estimate of $0.22 loss by 36.36%, while narrowing from a $0.24 loss in the same period last year. Revenue came in at $185.6 million, significantly surpassing the $150.9 million consensus estimate. The company simultaneously raised its full-year sales guidance to $680 million to $700 million, far above the FactSet consensus of $630 million. This marks the second consecutive quarter of substantial revenue outperformance, following Q1 sales of $150.6 million that also beat the $137 million estimate.

On the institutional side, Truist raised its price target to $180 from $160 maintaining a Buy rating, while Needham has also repeatedly lifted its target. Although UBS recently downgraded the stock to Neutral with a $150 target, overall market sentiment remains constructive with pipeline milestones and earnings momentum reinforcing each other.

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