DermTech Inc (DMTK) Stock Forecast & Price Target
DermTech Inc (DMTK) Analyst Ratings
Bulls say
DermTech is experiencing significant revenue growth, primarily driven by a year-on-year increase in the average selling price (ASP) per test, which rose by 55% from the previous year. This growth is a result of DermTech's strategic focus on expanding reimbursed testing volumes and improving the onboarding process for new paying customers. Additionally, prospective publication of the TRUST 2 study and subsequent reengagement with national payers, coupled with recent positive coverage decisions by certain Blues Plans, are expected to further elevate the ASP, enhancing DermTech's long-term revenue prospects.
Bears say
DermTech is facing a potential decline in business due to a projected decrease in order volumes and unique ordering clinicians in the near future. The company's financial outlook is also concerning as it expects to burn $55M to $60M annually. Furthermore, DermTech's stock could be at risk of material multiple compression if it fails to meet market expectations or if overall market sentiment turns against growth stocks.
This aggregate rating is based on analysts' research of DermTech Inc and is not a guaranteed prediction by Public.com or investment advice.
DermTech Inc (DMTK) Analyst Forecast & Price Prediction
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