DermTech price target lowered to $4.50 from $6 at Lake Street

Lake Street lowered the firm’s price target on DermTech to $4.50 from $6 and keeps a Buy rating on the shares. Following the company’s Q3 report, there is “now some evidence of the company’s new strategy working as advertised,” says the analyst, who adds: “Not a lot, but some.” The firm has reduced its price target to account for the updated cash position and share count, along with changes in comparable multiples, the analyst noted.