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Why Glaukos Stock Is Soaring Today

TheMotleyFool

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Shares of Glaukos (NYSE: GKOS) were soaring 18.5% as of 11:58 a.m. EDT on Wednesday. The big jump came after the Centers for Medicare & Medicaid Services (CMS) published its final payment rates for 2022.

Glaukos revealed the CMS update in a filing with the U.S. Securities and Exchange Commission (SEC) on Wednesday. These rates were viewed as favorable to Glaukos, prompting Stephens analyst Chris Cooley to upgrade the healthcare stock from equal weight to overweight. Cooley also increased his price target for Glaukos to $68, which reflects an upside potential of more than 50% from the closing price on Tuesday.

Image source: Getty Images.

Source Fool.com

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