TearLab Corp. (NASDAQ:TEAR)‘s stock had its “buy” rating reiterated by investment analysts at Rodman & Renshaw in a research report issued on Saturday. They presently have a $2.00 price objective on the stock. Rodman & Renshaw’s price target suggests a potential upside of 220.77% from the stock’s current price.
A number of other research analysts also recently issued reports on TEAR. Zacks Investment Research upgraded shares of TearLab Corp. from a “sell” rating to a “hold” rating in a research report on Thursday, September 22nd. Roth Capital downgraded shares of TearLab Corp. from a “buy” rating to a “neutral” rating in a research report on Thursday, August 4th. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. TearLab Corp. currently has an average rating of “Buy” and a consensus price target of $2.60.
TearLab Corp. (NASDAQ:TEAR) traded up 0.5645% during mid-day trading on Friday, reaching $0.6235. 18,936 shares of the company were exchanged. The company’s 50 day moving average price is $0.69 and its 200-day moving average price is $0.73. The stock’s market capitalization is $32.98 million. TearLab Corp. has a 12 month low of $0.58 and a 12 month high of $2.11.
TearLab Corp. (NASDAQ:TEAR) last posted its quarterly earnings data on Wednesday, August 3rd. The company reported ($0.08) EPS for the quarter, meeting the Zacks’ consensus estimate 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 last year, the company earned ($0.24) earnings per share. The company’s revenue was up 8.8% compared to the same quarter last year. On average, equities analysts expect that TearLab Corp. will post ($0.44) earnings per share for the current fiscal year.
Several hedge funds have recently added to or reduced their stakes in TEAR. Vanguard Group Inc. boosted its stake 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 period. Perkins Capital Management Inc. boosted its stake 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 period. Sabby Management LLC purchased a new stake in TearLab Corp. during the second quarter worth $1,205,000. First Light Asset Management LLC boosted its stake 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 period. Finally, AWM Investment Company Inc. purchased a new stake in TearLab Corp. during the second quarter worth $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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