Stephens Sticks to Its Buy Rating for DermTech (DMTK)

In a report released today, Mason Carrico from Stephens maintained a Buy rating on DermTech (DMTKResearch Report), with a price target of $5.00. The company’s shares opened today at $1.85.

According to TipRanks, Carrico is an analyst with an average return of -27.0% and a 16.67% success rate. Carrico covers the Healthcare sector, focusing on stocks such as Guardant Health, Myriad Genetics, and DermTech.

DermTech has an analyst consensus of Strong Buy, with a price target consensus of $9.60, implying a 418.92% upside from current levels. In a report released yesterday, BTIG also maintained a Buy rating on the stock with a $6.00 price target.

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Based on DermTech’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $4.23 million and a GAAP net loss of $29.58 million. In comparison, last year the company earned a revenue of $3.03 million and had a GAAP net loss of $20.11 million

Based on the recent corporate insider activity of 43 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of DMTK in relation to earlier this year. Earlier this month, RTW INVESTMENTS, LP, a Major Shareholder at DMTK sold 100,000.00 shares for a total of $176,000.00.

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DermTech, Inc. engages in the development and sale of products for the diagnosis and treatment of skin diseases. It markets and develops products that facilitate the early detection of skin cancers, assesses inflammatory diseases, and customizes drug treatments. Its products include adhesive skin collection kit, pigmented lesion assay, nevome, and carcinome. The company is headquartered in La Jolla, CA.

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