DermTech price target lowered to $1.50 from $2.50 at Stephens

Stephens lowered the firm’s price target on DermTech to $1.50 from $2.50 and keeps an Equal Weight rating on the shares. DermTech reported Q4 results that were largely in line with expectations, but shares materially sold off following the quarter due to concerns around the company’s long-term viability given the company’s cash position, the analyst tells investors. Securing a national payer in 2024 has become “critical” and if DermTech is unable to secure a national payer this year, there is substantial risk to the company’s ability to continue funding operations in 2025 and beyond, the analyst added.