Shares of Glaukos Corporation (GKOS) tumbled 8.74% in pre-market trading on Thursday, following a series of price target cuts by prominent Wall Street analysts. The ophthalmic medical technology and pharmaceutical company faced downward revisions from multiple firms, signaling potential concerns about its near-term prospects.

JP Morgan delivered the most significant blow, slashing its price target for Glaukos from $160 to $100, a 37.5% reduction. This was followed by Needham, which cut its target from $176 to $115, and Truist Securities, which lowered its target from $140 to $135. These substantial reductions in price targets suggest that analysts are reassessing their outlook on the company's future performance and growth potential.

While the specific reasons for these downgrades were not immediately clear, such coordinated actions by multiple analysts often indicate broader concerns about a company's financial health, competitive position, or industry trends. Investors appear to be reacting strongly to these revised outlooks, as evidenced by the significant pre-market sell-off. As the trading day progresses, market participants will be closely watching for any additional information or company statements that might provide further context for these analyst actions and the resulting stock movement.