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.

HC Wainwright reaffirmed their buy rating on shares of DiaMedica Therapeutics (NASDAQ:DMAC - Free Report) in a research report sent to investors on Friday morning,Benzinga reports. HC Wainwright currently has a $12.00 price objective on the stock.

Several other analysts also recently commented on DMAC. Lake Street Capital upped their price target on shares of DiaMedica Therapeutics from $11.00 to $14.00 and gave the company a "buy" rating in a research report on Friday, July 18th. Craig Hallum raised their target price on shares of DiaMedica Therapeutics from $8.00 to $11.00 and gave the company a "buy" rating in a report on Friday, July 18th. Three investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $12.33.

DiaMedica Therapeutics Stock Performance

DMAC stock traded up $0.15 on Friday, hitting $5.92. 111,032 shares of the company's stock were exchanged, compared to its average volume of 178,986. The stock has a market cap of $306.00 million, a P/E ratio of -8.58 and a beta of 1.25. DiaMedica Therapeutics has a 12-month low of $3.19 and a 12-month high of $6.82. The firm has a 50 day moving average price of $4.30 and a two-hundred day moving average price of $4.57.

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

Insider Buying and Selling at DiaMedica Therapeutics

In related news, major shareholder Jan Stahlberg acquired 1,542,857 shares of the business's stock in a transaction dated Wednesday, July 23rd. The stock was bought at an average price of $3.50 per share, for a total transaction of $5,399,999.50. Following the transaction, the insider owned 6,764,465 shares of the company's stock, valued at approximately $23,675,627.50. The trade was a 29.55% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 7.30% of the company's stock.

Hedge Funds Weigh In On DiaMedica Therapeutics

A number of hedge funds have recently modified their holdings of the stock. BNP Paribas Financial Markets increased its position in shares of DiaMedica Therapeutics by 24.4% in the 2nd quarter. BNP Paribas Financial Markets now owns 18,882 shares of the company's stock valued at $74,000 after buying an additional 3,709 shares in the last quarter. Bank of America Corp DE increased its stake in DiaMedica Therapeutics by 3,710.3% during the 2nd quarter. Bank of America Corp DE now owns 8,497 shares of the company's stock worth $33,000 after purchasing an additional 8,274 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in DiaMedica Therapeutics during the 2nd quarter worth approximately $56,000. Marshall Wace LLP raised its holdings in DiaMedica Therapeutics by 227.8% during the 2nd quarter. Marshall Wace LLP now owns 61,719 shares of the company's stock worth $241,000 after buying an additional 42,890 shares during the period. Finally, Invesco Ltd. bought a new position in DiaMedica Therapeutics in the second quarter valued at approximately $54,000. 10.12% of the stock is owned by institutional investors and hedge funds.

DiaMedica Therapeutics Company Profile

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.