Shares of TearLab Corp (NASDAQ:TEAR) have been assigned a consensus rating of “Buy” from the six analysts that are covering the company. Two equities research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $9.75.
A number of research analysts recently weighed in on TEAR shares. Rodman & Renshaw reissued a “buy” rating and issued a $12.00 price objective on shares of TearLab Corp in a research note on Friday, March 10th. HC Wainwright set a $12.00 price objective on TearLab Corp and gave the company a “buy” rating in a research note on Sunday, March 12th. Craig Hallum set a $6.00 price objective on TearLab Corp and gave the company a “buy” rating in a research note on Saturday, March 11th. Feltl & Co. downgraded TearLab Corp from a “strong-buy” rating to a “buy” rating and set a $9.00 price objective on the stock. in a research note on Saturday, March 11th. Finally, Zacks Investment Research raised TearLab Corp from a “sell” rating to a “hold” rating in a report on Thursday, March 16th.
Shares of TearLab Corp (NASDAQ:TEAR) traded up 0.85% during mid-day trading on Tuesday, reaching $2.36. 42,832 shares of the company’s stock were exchanged. TearLab Corp has a 1-year low of $1.85 and a 1-year high of $9.10. The stock’s market capitalization is $12.67 million. The company’s 50 day moving average is $3.02 and its 200 day moving average is $5.03.
TearLab Corp (NASDAQ:TEAR) last posted its quarterly earnings results on Thursday, March 9th. The medical research company reported ($0.81) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.90) by $0.09. The firm had revenue of $7.12 million for the quarter, compared to analysts’ expectations of $7.71 million. During the same period last year, the business earned ($0.26) earnings per share. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. Equities research analysts anticipate that TearLab Corp will post ($2.62) EPS for the current fiscal year.
In other TearLab Corp news, major shareholder Awm Investment Company, Inc. sold 327,674 shares of TearLab Corp stock in a transaction on Thursday, March 30th. The stock was sold at an average price of $3.20, for a total value of $1,048,556.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 11.60% of the company’s stock.
A hedge fund recently raised its stake in TearLab Corp stock. AWM Investment Company Inc. boosted its position in TearLab Corp (NASDAQ:TEAR) by 37.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,277,250 shares of the medical research company’s stock after buying an additional 2,000,000 shares during the period. AWM Investment Company Inc. owned about 13.76% of TearLab Corp worth $4,730,000 as of its most recent SEC filing. 36.09% of the stock is currently 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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