DermTech price target lowered to $3.50 from $4.50 at Lake Street

Lake Street lowered the firm’s price target on DermTech to $3.50 from $4.50 and keeps a Buy rating on the shares to account for the updated cash position and lower revenue estimate after the company reported Q4 results. With less than 12 months of cash runway, financing is needed and “it will probably be dilutive,” but the firm continues to believe investors can “find attractive long-term value in DermTech” despite short-term uncertainties.