On July 29, Glaukos rose 5.07% in regular trading, trading at $158.49/share, with turnover of approximately $196 million. The rally was driven by a combination of a key clinical milestone and bullish expectations ahead of the company's quarterly earnings release.

Glaukos announced the completion of patient enrollment for its US 510(k) pivotal study evaluating the Preserflo MicroShunt in adult patients with primary open-angle glaucoma who failed previous medical and surgical treatment. The study enrolled its target of at least 110 patients at clinical sites in the US and Canada. Under a license agreement with Santen Pharmaceutical, Glaukos holds exclusive rights to develop and commercialize the shunt in the US, Australia, New Zealand, Canada, Brazil, and Mexico.

Meanwhile, consensus estimates project quarterly revenue of approximately $151 million, representing 30.68% year-over-year growth, with adjusted EPS of -$0.22 reflecting a 15.63% improvement. Although UBS recently downgraded the stock to Neutral with a $150 price target, Truist raised its target to $180 maintaining a Buy rating, and overall institutional sentiment remains constructive with a consensus mean target of $163.85.

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