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 Tuesday.
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. “
TEAR has been the topic of a number of other reports. Rodman & Renshaw assumed coverage on shares of TearLab Corp. in a report on Tuesday, July 12th. They issued a “buy” rating and a $2.00 target price on the stock. Roth Capital lowered shares of TearLab Corp. from a “buy” rating to a “neutral” rating in a report on Thursday, August 4th. Two investment 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. The company has an average rating of “Buy” and an average price target of $2.60.
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A hedge fund recently raised its stake in TearLab Corp. stock. Perkins Capital Management Inc. boosted its stake in shares of TearLab Corp. (NASDAQ:TEAR) by 38.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,755,242 shares of the company’s stock after buying an additional 483,500 shares during the period. TearLab Corp. accounts for 1.3% of Perkins Capital Management Inc.’s holdings, making the stock its 25th largest position. Perkins Capital Management Inc. owned about 5.13% of TearLab Corp. worth $1,123,000 as of its most recent SEC filing.
TearLab Corp. (NASDAQ:TEAR) opened at 0.732 on Tuesday. The stock’s market cap is $38.72 million. The company has a 50-day moving average of $0.79 and a 200-day moving average of $0.75. TearLab Corp. has a 52 week low of $0.58 and a 52 week high of $2.66.
TearLab Corp. (NASDAQ:TEAR) last released its earnings results on Wednesday, August 3rd. The company reported ($0.08) earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of ($0.08). The firm earned $6.90 million during the quarter, compared to analysts’ expectations of $6.95 million. TearLab Corp.’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same quarter last year, the company posted ($0.24) earnings per share. On average, analysts predict that TearLab Corp. will post ($0.44) EPS for the current fiscal year.
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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