TearLab Corp. (NASDAQ:TEAR) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Thursday.
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. “
Other equities analysts have also issued research reports about the company. Rodman & Renshaw started coverage on TearLab Corp. in a research note on Tuesday, July 12th. They set a “buy” rating and a $2.00 target price on the stock. Roth Capital lowered TearLab Corp. from a “buy” rating to a “neutral” rating in a research note on Thursday, August 4th. Two research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. TearLab Corp. presently has an average rating of “Buy” and an average price target of $2.60.
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TearLab Corp. (NASDAQ:TEAR) traded down 1.250% during mid-day trading on Thursday, hitting $0.711. The stock had a trading volume of 25,317 shares. The company’s market cap is $37.61 million. The firm’s 50-day moving average price is $0.74 and its 200 day moving average price is $0.74. TearLab Corp. has a one year low of $0.58 and a one year high of $2.25.
TearLab Corp. (NASDAQ:TEAR) last released its quarterly earnings results on Wednesday, August 3rd. The company reported ($0.08) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.08). The business earned $6.90 million during the quarter, compared to analysts’ expectations of $6.95 million. TearLab Corp. had a negative return on equity of 477.83% and a negative net margin of 105.59%. The company’s revenue was up 8.8% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.24) EPS. On average, equities research analysts anticipate that TearLab Corp. will post ($0.44) EPS for the current year.
A number of large investors have recently bought and sold shares of the stock. AWM Investment Company Inc. bought a new stake in TearLab Corp. during the second quarter worth about $3,377,000. Sabby Management LLC bought a new stake in TearLab Corp. during the second quarter worth about $1,205,000. Perkins Capital Management Inc. raised 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 in the last quarter. First Light Asset Management LLC raised 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 in the last quarter. Finally, Vanguard Group Inc. raised 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 in the last quarter. 38.50% of the stock is currently owned by institutional investors.
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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