DermTech (NASDAQ:DMTK) Stock Rating Reaffirmed by Stephens

DermTech (NASDAQ:DMTK)‘s stock had its “equal weight” rating reissued by equities research analysts at Stephens in a research report issued to clients and investors on Friday, Benzinga reports. They presently have a $1.50 price objective on the stock. Stephens’ price target suggests a potential upside of 145.50% from the stock’s current price.

Separately, BTIG Research restated a “neutral” rating on shares of DermTech in a report on Friday.

DermTech Stock Up 3.4 %

NASDAQ:DMTK traded up $0.02 during mid-day trading on Friday, hitting $0.61. 147,419 shares of the stock traded hands, compared to its average volume of 316,165. The business’s 50-day moving average price is $0.87 and its 200 day moving average price is $1.24. The company has a market cap of $21.15 million, a PE ratio of -0.20 and a beta of 2.52. DermTech has a 12-month low of $0.59 and a 12-month high of $4.36.

DermTech (NASDAQ:DMTK) last issued its quarterly earnings data on Thursday, February 29th. The company reported ($0.56) EPS for the quarter, missing the consensus estimate of ($0.54) by ($0.02). The firm had revenue of $3.92 million for the quarter, compared to analysts’ expectations of $4.05 million. DermTech had a negative net margin of 659.57% and a negative return on equity of 123.96%. Analysts anticipate that DermTech will post -1.94 earnings per share for the current fiscal year.

Institutional Investors Weigh In On DermTech

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. raised its holdings in DermTech by 3.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 64,087 shares of the company’s stock valued at $941,000 after buying an additional 2,052 shares during the last quarter. JPMorgan Chase & Co. increased its position in DermTech by 16.9% during the 1st quarter. JPMorgan Chase & Co. now owns 18,797 shares of the company’s stock valued at $276,000 after purchasing an additional 2,715 shares during the period. Centaurus Financial Inc. increased its position in DermTech by 7.1% during the 1st quarter. Centaurus Financial Inc. now owns 45,046 shares of the company’s stock valued at $661,000 after purchasing an additional 2,977 shares during the period. Rhumbline Advisers increased its position in DermTech by 13.5% during the 1st quarter. Rhumbline Advisers now owns 25,571 shares of the company’s stock valued at $375,000 after purchasing an additional 3,036 shares during the period. Finally, Swiss National Bank increased its position in DermTech by 7.9% during the 1st quarter. Swiss National Bank now owns 42,200 shares of the company’s stock valued at $619,000 after purchasing an additional 3,100 shares during the period. 20.45% of the stock is currently owned by institutional investors.

DermTech Company Profile

DermTech, Inc, a molecular diagnostic company, engages in the development and marketing of novel non-invasive genomics tests to aid in the diagnosis and management of melanoma in the United States. The company provides DermTech Melanoma Test (DMT), an innovative non-invasive way to enhance melanoma detection for developing product for non-melanoma skin cancers.