TearLab Corporation (TEAR) Downgraded to Hold at Zacks Investment Research
Zacks Investment Research lowered shares of TearLab Corporation (NASDAQ:TEAR) from a buy rating to a hold rating in a research note released on Wednesday morning.
According to Zacks, “TearLab Corporation is an ophthalmic device company developing and commercializing novel, lab-on-a-chip technologies that enable eye care practitioners to test for highly sensitive and specific biomarkers in tears at the point-of-care. The Company is commercializing a proprietary in vitro diagnostic tear testing platform, the TearLabTM Osmolarity System, which is capable of accurately and rapidly measuring biomarkers in tears at the point-of-care. The TearLabTM System requires nanoliters of tears for testing, potentially reducing collection time and simplifying the tear collection process. TearLab Corporation, formerly known as OccuLogix Inc., is headquartered in San Diego, California. “
Several other research firms have also commented on TEAR. Rodman & Renshaw dropped their price objective on shares of TearLab Corporation from $12.00 to $4.00 and set a buy rating for the company in a research note on Tuesday, May 16th. HC Wainwright reaffirmed a buy rating and set a $4.00 price objective on shares of TearLab Corporation in a research note on Tuesday, May 16th. Five investment analysts have rated the stock with a buy rating, TearLab Corporation presently has a consensus rating of Buy and an average target price of $4.90.
TearLab Corporation (NASDAQ:TEAR) opened at 1.35 on Wednesday. The stock’s 50 day moving average is $2.03 and its 200 day moving average is $2.64. TearLab Corporation has a 1-year low of $1.20 and a 1-year high of $8.20. The company’s market cap is $7.75 million.
TearLab Corporation (NASDAQ:TEAR) last posted its quarterly earnings data on Monday, August 14th. The medical research company reported ($0.68) EPS for the quarter, topping the consensus estimate of ($0.75) by $0.07. The firm had revenue of $7 million for the quarter, compared to analysts’ expectations of $6.86 million. The firm’s quarterly revenue was up 1.4% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.08) earnings per share. Equities analysts anticipate that TearLab Corporation will post ($2.70) earnings per share for the current fiscal year.
About TearLab Corporation
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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