In a report released today, Alexander Nowak from Craig-Hallum maintained a Buy rating on DermTech (DMTK – Research Report). The company’s shares closed yesterday at $2.24.
Nowak covers the Healthcare sector, focusing on stocks such as Accelerate Diagnostics, Diamedica Therapeutics, and Miromatrix Medical. According to TipRanks, Nowak has an average return of 1.1% and a 42.27% success rate on recommended stocks.
Currently, the analyst consensus on DermTech is a Moderate Buy with an average price target of $6.00.
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Based on DermTech’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $3.48 million and a GAAP net loss of $31.27 million. In comparison, last year the company earned a revenue of $3.72 million and had a GAAP net loss of $30.11 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.
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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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