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. “
Several other research analysts have also recently issued reports on the company. Rodman & Renshaw reissued a buy rating and issued a $2.00 price target on shares of TearLab Corp. in a research note on Friday, August 5th. Roth Capital cut TearLab Corp. from a buy rating to a neutral rating in a research note on Thursday, August 4th. Two equities research analysts have rated the stock with a hold rating, three have assigned 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 target price of $2.60.
TearLab Corp. (NASDAQ:TEAR) opened at 0.66 on Thursday. The stock’s market capitalization is $34.91 million. The stock’s 50 day moving average is $0.74 and its 200-day moving average is $0.74. TearLab Corp. has a 12 month low of $0.58 and a 12 month high of $2.25.
TearLab Corp. (NASDAQ:TEAR) last issued its quarterly earnings data on Wednesday, August 3rd. The company reported ($0.08) EPS for the quarter, hitting the Zacks’ consensus estimate of ($0.08). The firm earned $6.90 million during the quarter, compared to the consensus estimate of $6.95 million. TearLab Corp. had a negative return on equity of 477.83% and a negative net margin of 105.59%. The firm’s revenue was up 8.8% on a year-over-year basis. During the same period in the prior year, the business earned ($0.24) EPS. On average, equities research analysts expect that TearLab Corp. will post ($0.44) earnings per share for the current year.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in shares of 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. boosted its position in shares of 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 purchased a new position in shares of TearLab Corp. during the second quarter valued at $1,205,000. First Light Asset Management LLC boosted its position in shares of 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. purchased a new position in shares of TearLab Corp. during the second quarter valued at $3,377,000. 38.50% of the stock is owned by institutional investors and hedge funds.
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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