Lake Street analyst Frank Takkinen notes that Noridian is the first of the five Medicare Administrative Contractors, or MACs, to post a final local coverage determination, or LCD, related to the coverage of microinvasive glaucoma surgery, or MIGS. The proposal was finalized in its current form, which is a positive for Sight Sciences as it is the first finalized policy confirming continuity of OMNI coverage, the analyst tells investors. The firm, which waits for other MACs – CGS, NGS, Palmetto, and WPS – to finalize their proposals and expects these to be finalized in a similar fashion as Noridian’s policy, thinks the remaining proposal finalizations are “relatively derisked near-term catalysts” and reiterates a Buy rating and $10 price target on Sight shares.
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