TearLab Corp (TEAR) reported quarterly earnings results on Wednesday, Aug-3-2016. The company reported $-0.08 EPS for the quarter. Analysts had a consensus estimate of $-0.08. The company posted revenue of $6.90 million in the period, compared to analysts expectations of $6.93 million. The company’s revenue was up 8.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.24 EPS.
Many Wall Street Analysts have commented on TearLab Corp. Rodman & Renshaw Initiated TearLab Corp on Jul 12, 2016 to “Buy”, Price Target of the shares are set at $2.
TearLab Corp closed down -0.0404 points or -4.70% at $0.8196 with 1,67,879 shares getting traded on Tusday. Post opening the session at $0.834, the shares hit an intraday low of $0.8 and an intraday high of $0.87 and the price fluctuated in this range throughout the day.Shares ended Tusday session in Red.
In a different news, on Jun 1, 2016, Brock Wright (director) purchased 59,686 shares at $0.77 per share price. According to the SEC, on May 11, 2016, Wes Brazell (CFO) purchased 66,666 shares at $0.00 per share price. On May 11, 2016, Richard L Md Lindstrom (director) purchased 133,332 shares at $0.00 per share price, according to the Form-4 filing with the securities and exchange commission.
TearLab Corporation is an in-vitro diagnostic company. The Company has commercialized 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. The Company is engaged in commercial manufacturing of the TearLab Osmolarity System. The Company’s wholly owned subsidiary TearLab Research Inc. develops technologies to enable eye care practitioners to test a range of biomarkers (chemistries metabolites (glucose) genes and proteins) at the point-of-care. The TearLab Osmolarity System measures tear film osmolarity for the diagnosis of Dry Eye Disease (DED). The TearLab Osmolarity System is an integrated testing system consisted of: the TearLab disposable the TearLab Pen and the TearLab Reader.