New York, August 6 (FinanceEnquiry.com) – Analysts at Ascendiant Capital Markets initiate BUY ratings on the shares of Echo Therapeutics (NASDAQ: ECTE). The 12-month target price is set to $2.
In a research note published today, the analysts mention that the symphony device of the company has been unique, which utilizes a needle-free, non-invasive, interstitial fluid sensor. Therefore, the user is spared the momentary pain associated with the insertion of the sensor used in the competitor CGM’s.
Also, the symphony needs a shorter warm-up time, has a lower cost of use per day and hence seems to have competitor accuracy based on its performance in 10 pilot studies conducted till yet. The symphony would mainly be targeted towards the hospital critical care market for glucose monitoring, though it might be used at home by diabetic people, the analysts say.
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