Brokerages Expect DermTech, Inc. (NASDAQ:DMTK) Will Post Quarterly Sales of $4.95 Million

Wall Street analysts expect that DermTech, Inc. (NASDAQ:DMTKGet Rating) will announce sales of $4.95 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for DermTech’s earnings. The lowest sales estimate is $4.90 million and the highest is $5.00 million. DermTech posted sales of $3.12 million in the same quarter last year, which suggests a positive year-over-year growth rate of 58.7%. The business is scheduled to issue its next earnings report on Monday, January 1st.

On average, analysts expect that DermTech will report full-year sales of $24.17 million for the current fiscal year, with estimates ranging from $23.80 million to $24.70 million. For the next financial year, analysts anticipate that the company will post sales of $49.07 million, with estimates ranging from $45.00 million to $54.30 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that cover DermTech.

DermTech (NASDAQ:DMTKGet Rating) last released its quarterly earnings results on Tuesday, May 3rd. The company reported ($1.01) EPS for the quarter, missing the consensus estimate of ($0.85) by ($0.16). DermTech had a negative return on equity of 37.83% and a negative net margin of 716.51%. The firm had revenue of $3.72 million for the quarter, compared to analyst estimates of $3.77 million. During the same period last year, the firm earned ($0.49) EPS.

A number of analysts recently weighed in on DMTK shares. Craig Hallum decreased their price target on DermTech from $50.00 to $37.00 in a research note on Wednesday, March 2nd. Zacks Investment Research downgraded DermTech from a “hold” rating to a “sell” rating in a research note on Thursday, April 21st. Lake Street Capital decreased their price target on DermTech from $79.00 to $34.00 in a research note on Wednesday, March 2nd. BTIG Research reiterated a “buy” rating and set a $38.00 target price (down from $48.00) on shares of DermTech in a research report on Thursday, April 14th. Finally, Cowen decreased their target price on DermTech from $33.00 to $20.00 in a research report on Wednesday, May 4th.

Shares of DMTK stock opened at $6.02 on Wednesday. DermTech has a twelve month low of $5.68 and a twelve month high of $48.32. The company has a market capitalization of $180.24 million, a P/E ratio of -1.91 and a beta of 1.13. The business’s 50 day moving average is $10.83 and its two-hundred day moving average is $14.20.

In other DermTech news, CEO John Dobak sold 2,561 shares of the company’s stock in a transaction dated Monday, March 7th. The stock was sold at an average price of $13.03, for a total transaction of $33,369.83. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Herm Rosenman purchased 20,000 shares of the company’s stock in a transaction on Monday, May 9th. The shares were purchased at an average price of $6.86 per share, with a total value of $137,200.00. Following the completion of the purchase, the director now directly owns 72,832 shares of the company’s stock, valued at $499,627.52. The disclosure for this purchase can be found here. Over the last three months, insiders sold 7,037 shares of company stock valued at $95,384. Insiders own 3.60% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of DMTK. State Street Corp raised its stake in DermTech by 7.9% during the first quarter. State Street Corp now owns 3,071,055 shares of the company’s stock valued at $45,083,000 after buying an additional 225,572 shares in the last quarter. BlackRock Inc. raised its stake in DermTech by 1.3% during the third quarter. BlackRock Inc. now owns 1,661,092 shares of the company’s stock valued at $53,337,000 after buying an additional 21,020 shares in the last quarter. Vanguard Group Inc. raised its stake in DermTech by 3.9% during the first quarter. Vanguard Group Inc. now owns 1,283,221 shares of the company’s stock valued at $18,838,000 after buying an additional 47,611 shares in the last quarter. Victory Capital Management Inc. raised its stake in DermTech by 19.3% during the first quarter. Victory Capital Management Inc. now owns 1,141,004 shares of the company’s stock valued at $16,750,000 after buying an additional 184,633 shares in the last quarter. Finally, Marshall Wace LLP raised its stake in DermTech by 4,558.2% during the fourth quarter. Marshall Wace LLP now owns 624,154 shares of the company’s stock valued at $9,863,000 after buying an additional 610,755 shares in the last quarter. 75.12% of the stock is owned by hedge funds and other institutional investors.

About DermTech (Get Rating)

DermTech, Inc, a molecular diagnostic company, develops and markets novel non-invasive genomics tests to diagnosis skin cancer, inflammatory diseases, and aging-related conditions in the United States. It offers DermTech Melanoma Test (DMT), a gene expression test that that enhances early detection of genomic atypia and helps rule out melanoma and the need for a surgical biopsy of atypical pigmented lesions.

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