TearLab Corp. (TEAR) Receives “Buy” Rating from HC Wainwright
TearLab Corp. (NASDAQ:TEAR)‘s stock had its “buy” rating reiterated by research analysts at HC Wainwright in a research report issued to clients and investors on Sunday. They currently have a $2.00 target price on the stock. HC Wainwright’s target price would suggest a potential upside of 220.77% from the company’s current price.
Several other equities analysts have also recently commented on the company. Rodman & Renshaw restated a “buy” rating and set a $2.00 target price on shares of TearLab Corp. in a research report on Saturday. Zacks Investment Research cut TearLab Corp. from a “hold” rating to a “sell” rating in a research report on Tuesday, August 9th. Finally, Roth Capital cut TearLab Corp. from a “buy” rating to a “neutral” rating in a research report on Thursday, August 4th. Two analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $2.50.
TearLab Corp. (NASDAQ:TEAR) opened at 0.6235 on Friday. The company’s market capitalization is $32.98 million. The stock’s 50 day moving average price is $0.69 and its 200-day moving average price is $0.73. TearLab Corp. has a 12 month low of $0.58 and a 12 month high of $2.11.
TearLab Corp. (NASDAQ:TEAR) last released its quarterly earnings data 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 had revenue of $6.90 million for the quarter, compared to the consensus estimate of $6.95 million. During the same quarter in the previous year, the firm posted ($0.24) earnings per share. The business’s revenue for the quarter was up 8.8% compared to the same quarter last year. On average, equities research analysts predict that TearLab Corp. will post ($0.44) EPS for the current fiscal year.
Several institutional investors have recently bought and sold shares of the company. AWM Investment Company Inc. purchased a new position in TearLab Corp. during the second quarter worth about $3,377,000. Sabby Management LLC purchased a new position in TearLab Corp. during the second quarter worth about $1,205,000. Perkins Capital Management Inc. boosted its position in TearLab Corp. by 38.0% in the second quarter. Perkins Capital Management Inc. now owns 1,755,242 shares of the company’s stock worth $1,123,000 after buying an additional 483,500 shares during the last quarter. First Light Asset Management LLC boosted its position in 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 worth $2,407,000 after buying an additional 14,267 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in TearLab Corp. by 0.4% in the second quarter. Vanguard Group Inc. now owns 825,984 shares of the company’s stock worth $528,000 after buying an additional 3,100 shares during the last quarter. Hedge funds and other institutional investors own 38.50% of the company’s stock.
About TearLab Corp.
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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