ECTE Receives Recent $3.00 Price Target
Echo Therapeutics, Inc. (OTCBB: ECTE) had a terrific day of trading as it closed up 10.38%.
The symbol is very bullish!
Just look at what ECTE has achieved as a stock play during today’s market…
- 52-Week High of $2.04 !
- 18 Month High of $2.04!
- Volume Highest since December 2006!
- Highest Number of Trades for at least past year!
ECTE Receives $3.00 Price Target
Last month Boenning & Scattergood one of the oldest independent securities, asset management and investment banking firms in its region released an analyst report.
Key Points:
• Market opportunities for continuous glucose monitoring systems are substantial and expanding.
• A growing body of clinical research demonstrates that continuous glucose monitoring can provide short- and long-term clinical benefits, both in ambulatory and hospital settings.
• In June, 2008, The Centers for Medicare and Medicaid Services (CMS) issued billing codes for continuous glucose monitoring systems. These three new billing codes can be used by public and private healthcare providers when processing this new, breakthrough technology.
• Two key licensing agreements — with Ferndale Pharma Group and Handok Pharmaceuticals – affirms the potential of the Echo Therapeutics’ Prelude™ SkinPrep System.
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ECTE‘s trading today confirmed that a strong uptrend is being witnessed in the symbol’s market.
This does not surprise me because of the strength of both the fundamental and technical factors…
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ECTE Has Substantial and Expanding Market Opportunity
There are approximately 1.3 million Type I diabetics, and 30 million annual critical care patient days in the United States, alone.
The analyst report mentioned, "While market penetration rates for [Continuous Glucose Monitoring systems] CGMs are in their infancy, we feel these rates could go as high as 20% for both markets due to advancements in CGM technologies and new positive clinical studies."
Now consider these two points made by Aetna:
#2. Aetna considers the long-term (greater than 72-hour) therapeutic use of continuous glucose monitoring devices medically necessary as an adjunct to finger stick testing of blood glucose in adults age 25 years and older with type 1 diabetes, and for younger persons with type 1 diabetes who have had recurrent episodes of severe hypoglycemia.
#1. Aetna considers the short-term (up-to-72 hour) diagnostic use of continuous glucose monitoring devices medically necessary for persons with type 1 diabetes.
#2. Aetna considers the long-term (greater than 72-hour) therapeutic use of continuous glucose monitoring devices medically necessary as an adjunct to finger stick testing of blood glucose in adults age 25 years and older with type 1 diabetes, and for younger persons with type 1 diabetes who have had recurrent episodes of severe hypoglycemia.
So, clearly there is growing need for ECTE’s non-invasive diabetes monitoring system.
NOTE: And to underscore the premise that this industry segment is getting WHITE-HOT!…today, one of ECTE’s competitors DexCom, Inc. (NASDAQ:DXCM) also reached its 52-Week High!
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ECTE is poised to take off this week!
Watch as early entrants are poised to maximize gains with ECTE as one of their trade ideas!
Don’t miss out!
Best Regards,
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sources and WePickPennyStocks makes no representations, warranties or guarantees as to the accuracy or completeness of the disclosure by the profiled companies. This is not a solicitation to or sell any securities. Any claims or Statements should be deemed apocryphal. WePickPennyStocks, nor any of its affiliates are not registered investment advisors or a broker dealers.
injury (monetary or otherwise) that you may incur. The information contained herein is based on sources which we believe to be reliable but is not guaranteed by us as being accurate and does not purport to be a complete statement or summary of the available data. WePickPennyStocks’s affiliates may from time to time have a position in the securities mentioned herein and may increase or decrease such positions without notice. Any opinions expressed are subject to change without notice. WePickPennyStocks encourages readers and investors to supplement the information in these reports with independent research and other pro advice. An affiliate of WePickPennyStocks has agreed to be compensated one hundred fifty thousand dollars for a one month investor awareness program by a third party for ECTE and is in negotiations for an additional forty thousand dollars. All information on featured companies is provided by the companies profiled, or is available from public
sources and WePickPennyStocks makes no representations, warranties or guarantees as to the accuracy or completeness of the disclosure by the profiled companies. This is not a solicitation to or sell any securities. Any claims or Statements should be deemed apocryphal. WePickPennyStocks, nor any of its affiliates are not registered investment advisors or a broker dealers.
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