UPDATE: Gilford Securities Initiates Speculative Buy on Echo Therapeutics

Gilford Securities initiates its coverage on Echo Therapeutics (NASDAQ: ECTE) with a Speculative Buy on the company;s potential of becoming a world leader in transdermal drug delivery and analyte monitoring.

Gilford Securities says, "The overall Transdermal market is thought to range somewhere up to $20 billion now. However, its long-term potential seems open-ended. In the drug delivery area alone, for example, today's market is comprised of approximately 20 drugs. The potential is easily hundreds. Within this possibly disruptive transformational technology, Echo seems to enjoy a world leading technology and a capable management team with which to exploit long-term possibilities."

ECTE closed at $1.84 a share yesterday.