US Ophthalmology Stocks Plunge 13% After Hitting 52-Week High

Shares of U.S.-based ophthalmic device and pharmaceutical company Glaukos Corporation (GKOS) plunged 12.64% on the New York Stock Exchange on the 21st, closing at $121.46. The company’s market capitalization fell to roughly $7.1 billion (about ₩9 trillion), erasing approximately $800 million (around ₩1 trillion) in a single trading session. Trading volume exceeded 1.5 million shares, markedly higher than its usual levels.

Glaukos recently reported first-quarter revenue of $150.6 million (about ₩200 billion), a 41% increase year-over-year, and projected full-year sales of $600 million to $620 million (roughly ₩800 billion). Its stock price climbed to a 52-week high of $146.75, but analysts say that profit-taking after the rapid gain, coupled with executive share-sale disclosures, has added downward pressure on the shares.

Headquartered in California, Glaukos is an ophthalmology-focused medical technology and pharmaceutical company known for its minimally invasive glaucoma surgery device, the iStent, and its implantable, long-acting drug-delivery system, the iDose TR. The company is expanding its treatment portfolio for glaucoma, corneal diseases, and retinal disorders as it pursues long-term profitability and greater market share.