Roth Capital Reit Buy Following TearLab's (TEAR) 1Q Results

Roth Capital maintains a Buy rating on TearLab Corp. (NASDAQ: TEAR), but lowered the target price to $3.50 (from $4), to reflect lower revenue projections. TEAR reported 1Q revenues of $5.4 million. Which were just below Roth's estimatesof $5.5 million. Their 1Q net loss per share was ($0.24), which came out three cents off of the projected ($0.21). Although, Bullish commentary from management about increasing productivity, and a maturing sales force, leads Roth to believe that TEAR is gaining traction.

Roth Capital analyst, Chris Lewis, commented on TEAR's 1Q, saying, "Although 1Q results were just shy of our expectations, we maintain our expectation for TEAR to demonstrate improved commercial execution through its stabilized and increasingly productive sales force, which should translate into more meaningful sequential revenue growth over the course of this year. We maintain our Buy rating but lower our target price to $3.50, from $4, to reflect our lowered forward revenue projections."

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 $2.21 yesterday.

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