TearLab Corp.’s (TEAR) “Buy” Rating Reaffirmed at HC Wainwright
A number of other equities research analysts have also issued reports on the company. Rodman & Renshaw reaffirmed a buy rating and issued a $2.00 target price on shares of TearLab Corp. in a research note on Saturday. Zacks Investment Research raised TearLab Corp. from a sell rating to a hold rating in a research note on Thursday, September 22nd. Finally, Roth Capital lowered TearLab Corp. from a buy rating to a neutral rating in a research note on Thursday, August 4th. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of Buy and a consensus price target of $2.50.
TearLab Corp. (NASDAQ:TEAR) opened at 0.6235 on Friday. TearLab Corp. has a 1-year low of $0.58 and a 1-year high of $2.11. The firm’s market capitalization is $32.98 million. The company’s 50-day moving average price is $0.69 and its 200 day moving average price is $0.73.
TearLab Corp. (NASDAQ:TEAR) last posted its earnings results on Wednesday, August 3rd. The company reported ($0.08) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.08). The company earned $6.90 million during the quarter, compared to analysts’ expectations of $6.95 million. During the same period in the previous year, the company posted ($0.24) EPS. TearLab Corp.’s quarterly revenue was up 8.8% compared to the same quarter last year. On average, equities analysts anticipate that TearLab Corp. will post ($0.44) EPS for the current year.
Several hedge funds and other institutional investors have recently modified their holdings of TEAR. Vanguard Group Inc. increased its stake in shares of TearLab Corp. by 0.4% in the second quarter. Vanguard Group Inc. now owns 825,984 shares of the company’s stock valued at $528,000 after buying an additional 3,100 shares in the last quarter. Perkins Capital Management Inc. increased its stake in shares of TearLab Corp. by 38.0% in the second quarter. Perkins Capital Management Inc. now owns 1,755,242 shares of the company’s stock valued at $1,123,000 after buying an additional 483,500 shares in the last quarter. Sabby Management LLC bought a new stake in shares of TearLab Corp. during the second quarter valued at about $1,205,000. First Light Asset Management LLC increased its stake in shares of TearLab Corp. by 0.4% in the second quarter. First Light Asset Management LLC now owns 3,760,430 shares of the company’s stock valued at $2,407,000 after buying an additional 14,267 shares in the last quarter. Finally, AWM Investment Company Inc. bought a new stake in shares of TearLab Corp. during the second quarter valued at about $3,377,000. 38.50% of the stock is currently owned by institutional investors and hedge funds.
TearLab Corp. Company Profile
TearLab Corporation is an in-vitro diagnostic company. The Company has commercialized a tear testing platform, the TearLab Osmolarity System, which enables eye care practitioners to test for sensitive and specific biomarkers using nanoliters of tear film at the point-of-care. The Company, through its subsidiary TearLab Research, Inc, develops technologies to enable eye care practitioners to test a range of biomarkers (chemistries, metabolites, genes and proteins) at the point-of-care.
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