TearLab Corp. (NASDAQ:TEAR)‘s stock had its “buy” rating reissued by equities researchers at HC Wainwright in a note issued to investors on Sunday. They presently have a $2.00 price objective on the stock. HC Wainwright’s price target would indicate a potential upside of 220.77% from the company’s previous close.
A number of other equities research analysts have also recently commented on TEAR. Zacks Investment Research cut TearLab Corp. from a “buy” rating to a “hold” rating in a report on Wednesday, July 6th. Rodman & Renshaw reissued a “buy” rating and set a $2.00 price target on shares of TearLab Corp. in a report on Saturday. Finally, Roth Capital cut TearLab Corp. from a “buy” rating to a “neutral” rating in a 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 stock. TearLab Corp. presently has a consensus rating of “Buy” and a consensus target price of $2.50.
TearLab Corp. (NASDAQ:TEAR) opened at 0.6235 on Friday. TearLab Corp. has a 52-week low of $0.58 and a 52-week high of $2.11. The company’s market cap is $32.98 million. The firm’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 quarterly earnings results on Wednesday, August 3rd. The company reported ($0.08) EPS for the quarter, meeting the Zacks’ consensus estimate of ($0.08). The business had revenue of $6.90 million for the quarter, compared to the consensus estimate of $6.95 million. TearLab Corp.’s revenue was up 8.8% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.24) earnings per share. On average, equities analysts anticipate that TearLab Corp. will post ($0.44) EPS for the current year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised 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 valued at $528,000 after buying an additional 3,100 shares in the last quarter. Perkins Capital Management Inc. raised 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 valued at $1,123,000 after buying an additional 483,500 shares in the last quarter. Sabby Management LLC bought a new position in TearLab Corp. during the second quarter valued at approximately $1,205,000. First Light Asset Management LLC raised 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 valued at $2,407,000 after buying an additional 14,267 shares in the last quarter. Finally, AWM Investment Company Inc. bought a new position in TearLab Corp. during the second quarter valued at approximately $3,377,000. 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.
Receive News & Ratings for TearLab Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TearLab Corp. and related companies with MarketBeat.com's FREE daily email newsletter.