Brokerages Set TearLab Corp. (TEAR) Target Price at $2.00
TearLab Corp. (NASDAQ:TEAR) has been given an average recommendation of “Buy” by the six brokerages that are currently covering the firm. Two analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $2.00.
A number of research analysts recently commented on the company. HC Wainwright set a $2.00 target price on TearLab Corp. and gave the company a “buy” rating in a research note on Tuesday, November 8th. Zacks Investment Research upgraded TearLab Corp. from a “sell” rating to a “hold” rating in a research note on Wednesday, October 19th. Rodman & Renshaw restated a “buy” rating and issued a $2.00 target price on shares of TearLab Corp. in a research note on Saturday, October 15th. Finally, Roth Capital lowered TearLab Corp. from a “buy” rating to a “neutral” rating in a research note on Thursday, August 4th.
Shares of TearLab Corp. (NASDAQ:TEAR) opened at 0.5795 on Friday. TearLab Corp. has a 52 week low of $0.51 and a 52 week high of $1.75. The company’s 50 day moving average is $0.61 and its 200-day moving average is $0.70. The company’s market capitalization is $31.06 million.
TearLab Corp. (NASDAQ:TEAR) last issued its quarterly earnings results on Monday, November 7th. The company reported ($0.07) EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.01. The business had revenue of $20.90 million for the quarter, compared to analyst estimates of $7.13 million. During the same quarter last year, the firm earned ($0.24) earnings per share. The firm’s quarterly revenue was up 9.1% compared to the same quarter last year. On average, analysts expect that TearLab Corp. will post ($0.44) EPS for the current fiscal year.
A number of hedge funds have recently made changes to their positions in the stock. AWM Investment Company Inc. bought a new stake in shares of TearLab Corp. during the second quarter worth $3,377,000. Sabby Management LLC bought a new stake in shares of TearLab Corp. during the second quarter worth $1,205,000. Perkins Capital Management Inc. boosted its stake in shares of TearLab Corp. by 5.3% in the third quarter. Perkins Capital Management Inc. now owns 1,848,242 shares of the company’s stock worth $1,201,000 after buying an additional 93,000 shares during the period. First Light Asset Management LLC boosted 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 worth $2,407,000 after buying an additional 14,267 shares during the period. Finally, Vanguard Group Inc. boosted 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 worth $528,000 after buying an additional 3,100 shares during the period. Hedge funds and other institutional investors own 38.14% 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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