TearLab Corp Price Target Lowered to $8.00 at Canaccord Genuity (TEAR)
Equities research analysts at Canaccord Genuity cut their price objective on shares of TearLab Corp (NASDAQ:TEAR) from $10.00 to $8.00 in a research note issued to investors on Friday. Canaccord Genuity’s target price indicates a potential upside of 123.47% from the company’s current price.
Separately, analysts at Feltl & Co. downgraded shares of TearLab Corp from a “strong-buy” rating to a “buy” rating in a research note on Friday.
Shares of TearLab Corp (NASDAQ:TEAR) traded down 19.37% during mid-day trading on Friday, hitting $3.5799. 1,506,605 shares of the company’s stock traded hands. TearLab Corp has a one year low of $3.80 and a one year high of $13.80. The stock has a 50-day moving average of $4.83 and a 200-day moving average of $5.71. The company’s market cap is $120.2 million.
TearLab Corp (NASDAQ:TEAR) last posted its quarterly earnings results on Thursday, August 7th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by $0.01. The company had revenue of $9.20 million for the quarter, compared to the consensus estimate of $5.12 million. The company’s revenue for the quarter was up 53.3% on a year-over-year basis. Analysts expect that TearLab Corp will post $-0.57 EPS for the current fiscal year.
TearLab Corp. is an in-vitro diagnostic company. The Company is commercializing a tear testing platform, the TearLab Osmolarity System that enables eye care practitioners to test for sensitive and specific biomarkers using nanoliters of tear film at the point-of-care.
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