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UPDATE: LifeTech Capital Downgrades Echo Therapeutics Following Capital Raise


In a report published Monday, LifeTech Capital analyst Stephen M. Dunn downgraded the rating on Echo Therapeutics (NASDAQ: ECTE) from Strong Speculative Buy to Neutral, and removed the $3.75 price target.

In the report, LifeTech Capital noted, “Echo announced a $12M capital raise at $2.70 ($0.27 pre-split) continuing management's track records of funding missteps resulting in their third consecutive down round in six months ($0.95 Dec., $0.75 Feb., $0.27 June). As can be seen in the graph, despite significant technical and clinical progress for Echo's Symphony® tCGM system, their shares have lost 85% of their value over the past 12 months with a 75% loss in just the past 6 months.”

Echo Therapeutics closed on Friday at $2.78.

Latest Ratings for ECTE

Nov 2013MaintainsBuy
Jun 2013DowngradesStrong BuyNeutral
Apr 2013TerminatesHold

View More Analyst Ratings for ECTE
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Posted-In: LifeTech Capital Stephen M. DunnAnalyst Color Downgrades Analyst Ratings


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Latest Ratings

WENMorgan StanleyMaintains22.0
XGNCantor FitzgeraldInitiates Coverage On18.0
LOOPRoth CapitalInitiates Coverage On14.0
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