Craig-Hallum's Steven Crowley initiated coverage on shares of TearLab (NASDAQ: TEAR) with a Buy rating and $5 price target.
Monday's new Buy rating may be getting some extra attention as Crowley is now only the second analyst to cover TearLab shares. The stock is up a very sharp 12 percent to $1.97 at last check. Crowley's new price target represents potential upside of more than 150 percent.
Steve Crowley is a Managing Director and Senior Research Analyst in the Equity Research Department at Craig-Hallum Capital Group LLC, where he covers various medical technology companies and is responsible for the firm's Health Care Research practice. Previously, he spent 11 years at Kopp Investment Advisors as a Senior Portfolio Manager for the firm’s Emerging Growth and Total Quality Management investment strategies. He started in the investment business in 1985 as an analyst with Market Guide, Inc., followed by stints on both the buy-side (J.P. Morgan Investment Management) and sell-side (Craig-Hallum, Inc. & Summit Capital Group) before joining Kopp in 1994. Mr. Crowley holds a B.A. in Economics from the University of Chicago. He is a CFA charterholder.
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