UPDATE: Canaccord Genuity Starts TearLab (TEAR) at Buy; Large Market Opportunity

August 29, 2012 7:19 AM EDT
Get Alerts TEAR Hot Sheet
Price: $0.67 +3.08%

Rating Summary:
    5 Buy, 1 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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(Updated - August 29, 2012 8:48 AM EDT)

Canaccord Genuity initiates coverage on TearLab (NASDAQ: TEAR) with a Buy. PT $6.00.

Analyst, Jeffrey Frelick, said, "Physician survey highlights opportunity for TearLab. We conducted a survey of 34 US ophthalmologists, with the majority responding that approximately 40-50% of their patients present with dry eye disease. We would also note that the majority use a diagnostic test to confirm DED; however, only 17% stated they are very familiar with the TearLab Osmolarity System, presenting an opportunity for this new technology."

"The US markets potential alone includes 50,000 eye specialists who see on average six dry eye patients per day, equating to a $1.8 billion opportunity."

For an analyst ratings summary and ratings history on TearLab click here. For more ratings news on TearLab click here.

Shares of TearLab closed at $3.24 yesterday.

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