DermTech, Inc. (NASDAQ:DMTK) Receives Average Recommendation of “Buy” from Brokerages

DermTech, Inc. (NASDAQ:DMTK) has been given a consensus recommendation of “Buy” by the seven ratings firms that are currently covering the firm, Marketbeat reports. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $65.00.

Separately, Zacks Investment Research raised DermTech from a “sell” rating to a “hold” rating in a research note on Tuesday, July 20th.

Shares of NASDAQ:DMTK traded up $0.73 during midday trading on Thursday, reaching $32.25. 3,844 shares of the company’s stock traded hands, compared to its average volume of 348,606. DermTech has a 1 year low of $11.02 and a 1 year high of $84.49. The company has a market cap of $954.92 million, a P/E ratio of -15.61 and a beta of 0.88. The company has a fifty day simple moving average of $34.71 and a two-hundred day simple moving average of $38.01.

DermTech (NASDAQ:DMTK) last posted its quarterly earnings data on Wednesday, August 4th. The company reported ($0.48) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.54) by $0.06. DermTech had a negative return on equity of 28.74% and a negative net margin of 558.38%. The firm had revenue of $3.12 million during the quarter, compared to the consensus estimate of $2.80 million. On average, sell-side analysts forecast that DermTech will post -2.48 earnings per share for the current fiscal year.

In other news, insider Todd Michael Wood sold 1,126 shares of the stock in a transaction on Monday, September 13th. The stock was sold at an average price of $36.19, for a total transaction of $40,749.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Kevin M. Sun sold 4,276 shares of the firm’s stock in a transaction dated Wednesday, September 8th. The shares were sold at an average price of $36.19, for a total value of $154,748.44. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 13,004 shares of company stock valued at $470,580. Company insiders own 8.00% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the company. RTW Investments LP raised its position in shares of DermTech by 8.0% during the 1st quarter. RTW Investments LP now owns 3,118,665 shares of the company’s stock worth $158,397,000 after acquiring an additional 231,450 shares in the last quarter. Iszo Capital Management LP increased its position in DermTech by 283.6% during the first quarter. Iszo Capital Management LP now owns 1,822,394 shares of the company’s stock worth $92,559,000 after buying an additional 1,347,372 shares during the period. BlackRock Inc. increased its position in DermTech by 70.4% during the second quarter. BlackRock Inc. now owns 1,640,072 shares of the company’s stock worth $68,177,000 after buying an additional 677,518 shares during the period. State Street Corp increased its position in DermTech by 43.2% during the second quarter. State Street Corp now owns 1,555,435 shares of the company’s stock worth $64,659,000 after buying an additional 468,875 shares during the period. Finally, Vanguard Group Inc. increased its position in DermTech by 29.3% during the second quarter. Vanguard Group Inc. now owns 1,228,263 shares of the company’s stock worth $51,060,000 after buying an additional 278,443 shares during the period. Institutional investors and hedge funds own 68.71% of the company’s stock.

About DermTech

DermTech, Inc is a genomics company in dermatology, which engages in the development and sale of products for the diagnosis and treatment of skin diseases. It markets and develops products that facilitate the early detection of skin cancers, assesses inflammatory diseases, and customizes drug treatments.

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Analyst Recommendations for DermTech (NASDAQ:DMTK)

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