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