UPDATE: LifeTech Capital Reiterates Strong Speculative Buy Rating, Lowers PT on Echo Therapeutics on Clinical Progress

In a report published Wednesday, LifeTech Capital analyst Stephen M. Dunn reiterated a Strong Speculative Buy rating on Echo Therapeutics

, but lowered the price target from $5.00 to $3.75. In the report, Dunn noted, “Based on clinical progress for Echo's Symphony tCGM system, we are increasing our target valuation for Echo Therapeutics to $225M, an increase of $25M over our previous market valuation. However, on a per share basis, the target price has been decreased to $3.75 to reflect the higher 60.2M shares outstanding. Echo Therapeutics closed on Tuesday at $0.76.