HC Wainwright Reaffirms Buy Rating for TearLab Corp. (TEAR)
HC Wainwright reissued their buy rating on shares of TearLab Corp. (NASDAQ:TEAR) in a research report report published on Sunday morning. The brokerage currently has a $2.00 target price on the stock.
A number of other equities research analysts also recently weighed in on the stock. Zacks Investment Research upgraded shares of TearLab Corp. from a sell rating to a hold rating in a research note on Tuesday, September 6th. Roth Capital downgraded shares of TearLab Corp. from a buy rating to a neutral rating in a research note on Thursday, August 4th. Finally, Rodman & Renshaw restated a buy rating and issued a $2.00 price target on shares of TearLab Corp. in a research note on Saturday. Two investment 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 stock has an average rating of Buy and a consensus target price of $2.50.
Shares of TearLab Corp. (NASDAQ:TEAR) opened at 0.6235 on Friday. The company’s market cap is $32.98 million. TearLab Corp. has a 52 week low of $0.58 and a 52 week high of $2.11. The firm has a 50-day moving average of $0.69 and a 200 day moving average of $0.73.
TearLab Corp. (NASDAQ:TEAR) last released its earnings results on Wednesday, August 3rd. The company reported ($0.08) EPS for the quarter, meeting the consensus estimate of ($0.08). The firm earned $6.90 million during the quarter, compared to the consensus estimate of $6.95 million. During the same period in the prior year, the business earned ($0.24) earnings per share. TearLab Corp.’s quarterly revenue was up 8.8% compared to the same quarter last year. Equities analysts anticipate that TearLab Corp. will post ($0.44) earnings per share for the current fiscal year.
Large investors have recently bought and sold shares of the company. Vanguard Group Inc. increased 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 valued at $528,000 after buying an additional 3,100 shares in the last quarter. First Light Asset Management LLC increased 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 valued at $2,407,000 after buying an additional 14,267 shares in the last quarter. Perkins Capital Management Inc. increased 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 valued at $1,123,000 after buying an additional 483,500 shares in the last quarter. Sabby Management LLC acquired a new stake in TearLab Corp. during the second quarter valued at approximately $1,205,000. Finally, AWM Investment Company Inc. acquired a new stake in TearLab Corp. during the second quarter valued at approximately $3,377,000. Institutional investors and hedge funds own 38.50% of the company’s stock.
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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