LifeTech Capital Raises Echo Therapeutics PT To $6 (ECTE)

LifeTech Capital raised its Echo Therapeutics (OTC: ECTE) price target to $6 from $4.50 and maintained Echo Therapeutics Strong Speculative Buy rating in a research report published today.In the report, LifeTech Capital states, "Echo Therapeutics Symphony™ transdermal continuous glucose monitor (tCGM) system is a unique needle-free, wireless system which we believe is set to begin a pivotal clinical trial in ICU/Critical Care patients during 2011 (following a final pilot trial). We believe this puts Echo Therapeutics ahead of the curve with respect to tougher FDA standards for hospital use."Shares of Echo Therapeutics closed Friday at $4.25, down 9.96% from Thursday's market close.