Boenning & Scattergood issued an outperform rating today with a 12-month price target of $3.
Excerpt from the report:
"In the next three years, Echo Therapeutics, Inc. has the potential of changing the way critical care physicians and nurses, endocrinologists and diabetics view glucose monitoring.
In 2003,Echo Therapeutics completed its first glucose monitoring pilot study using its first generation skin permeation system and glucose flux sensor. Since that time, Echo Therapeutics has developed a smaller, more advanced skin permeation system, the Prelude™ SkinPrep system. If its clinical trials are as positive as its pilot studies, Echo Therapeutics has an opportunity to become the market leader in the continuous glucose monitoring market."
