Roth Capital Highlights Key Takeaways From Tearlab’s Analyst Day


In a research note released earlier today, Roth Capital analyst Chris Lewis reiterated a Buy rating on Tearlab (NASDAQ:TEAR) with an $8 price target, following TEAR’s inaugural analyst and investor day.

Lewis wrote, “Overall, we welcomed the more granular look into TEAR’s current business, growth and commercial strategies, and R&D pipeline provided during the analyst day presentations. We find TEAR’s new universal sales contract incorporating monthly ordering minimums as an interesting new concept that should ensure sustainable monthly orders. The company provided revised utilization metrics and market size estimates that were slightly below prior levels, which will likely leave some investors expecting more changes to the commercial strategy are yet to come. However, at this point, we view the commercial strategy (sales force, contract options, territory structure) as fairly concrete and expect the revised utilization targets will lead to improved visibility into TEAR’s current business trends and growth trajectory going forward. In addition, the next-generation integrated platform and potential test markers, while still some time out until commercially viable, appear promising and should become an increasing focus of the TEAR story over the next 12 months. Finally, we were satisfied to learn more about TEAR’s international commercial strategy and continue to expect International markets will become a more meaningful contributor to TEAR’s growth strategy over the longer-term.”

According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Chris Lewis has a total average return of -11.5% and a 33.3% success rate. Lewis has a -43.2% average return when recommending TEAR, and is ranked #3238 out of 3300 analysts.

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