Shares of Laguna Hills-based Glaukos Corp. rose today on first-quarter results that beat expectations.
The glaucoma device maker’s stock was up about 24% to a market value of about $794 million.
Glaukos released its results after markets closed Tuesday.
The company swung to a profit of $897,000 from a loss of $966,000 in 2015’s first quarter. Analysts had expected a loss of $5.3 million.
First-quarter sales were up 57% to $23.1 million, surpassing consensus forecasts of $18.8 million.
Glaukos also raised its net sales guidance for the full year. The company said it now expects $100 million to $102 million in 2016 sales, up from a prior range of $90 million to $93 million.
Wall Street currently expects Glaukos’ 2016 sales to come in at $91.9 million.