DiaMedica Therapeutics (NASDAQ:DMAC) Receives Buy Rating from HC Wainwright

Key Points

• HC Wainwright has reaffirmed a buy rating for DiaMedica Therapeutics (NASDAQ: DMAC), with a price target of $12.00, indicating a potential upside of 99.67%.
• Major shareholder Jan Stahlberg acquired over 1.5 million shares of DMAC, increasing his ownership stake by 29.55%.
• DiaMedica is currently focused on developing therapies for acute ischemic stroke and cardio-renal disease, with its lead candidate DM199 in Phase II/III clinical trials.

DiaMedica Therapeutics (NASDAQ:DMAC - Get Free Report)'s stock had its "buy" rating reaffirmed by analysts at HC Wainwright in a research report issued on Friday,Benzinga reports. They presently have a $12.00 price target on the stock. HC Wainwright's price target would indicate a potential upside of 99.67% from the stock's previous close.

DMAC has been the subject of a number of other research reports. Lake Street Capital increased their target price on shares of DiaMedica Therapeutics from $11.00 to $14.00 and gave the stock a "buy" rating in a research report on Friday, July 18th. Craig Hallum increased their target price on DiaMedica Therapeutics from $8.00 to $11.00 and gave the stock a "buy" rating in a research report on Friday, July 18th.

DiaMedica Therapeutics Stock Performance

Shares of DMAC stock opened at $6.01 on Friday. The company has a market capitalization of $310.66 million, a price-to-earnings ratio of -8.71 and a beta of 1.25. DiaMedica Therapeutics has a 52-week low of $3.19 and a 52-week high of $6.82. The company has a 50-day simple moving average of $4.20 and a two-hundred day simple moving average of $4.58.

DiaMedica Therapeutics (NASDAQ:DMAC - Get Free Report) last issued its quarterly earnings results on Tuesday, August 12th. The company reported ($0.18) earnings per share for the quarter, hitting analysts' consensus estimates of ($0.18). On average, sell-side analysts forecast that DiaMedica Therapeutics will post -0.59 EPS for the current fiscal year.

Insider Transactions at DiaMedica Therapeutics

In other DiaMedica Therapeutics news, major shareholder Jan Stahlberg acquired 1,542,857 shares of the company's stock in a transaction on Wednesday, July 23rd. The stock was acquired at an average price of $3.50 per share, for a total transaction of $5,399,999.50. Following the acquisition, the insider owned 6,764,465 shares in the company, valued at $23,675,627.50. This represents a 29.55% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 7.30% of the stock is currently owned by company insiders.

Institutional Trading of DiaMedica Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of DMAC. Police & Firemen s Retirement System of New Jersey bought a new position in shares of DiaMedica Therapeutics in the 2nd quarter worth about $29,000. Bank of America Corp DE increased its stake in shares of DiaMedica Therapeutics by 3,710.3% during the second quarter. Bank of America Corp DE now owns 8,497 shares of the company's stock valued at $33,000 after purchasing an additional 8,274 shares in the last quarter. JPMorgan Chase & Co. purchased a new position in shares of DiaMedica Therapeutics during the second quarter valued at approximately $49,000. Invesco Ltd. purchased a new stake in shares of DiaMedica Therapeutics in the 2nd quarter worth approximately $54,000. Finally, Intech Investment Management LLC bought a new position in DiaMedica Therapeutics during the 2nd quarter valued at approximately $56,000. 10.12% of the stock is currently owned by hedge funds and other institutional investors.

About DiaMedica Therapeutics

DiaMedica Therapeutics Inc, a clinical stage biopharmaceutical company, focuses on improving the lives of people suffering from serious diseases with a focus on acute ischemic stroke. Its lead candidate is DM199, a pharmaceutically active recombinant form of the human tissue kallikrein-1 protein, which is in Phase II/III trials for the treatment of acute ischemic stroke, as well as that is in Phase 2 to treat cardio-renal disease.

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