DiaMedica Therapeutics (NASDAQ:DMAC) Upgraded to Hold at Wall Street Zen

Key Points

• DiaMedica Therapeutics (NASDAQ:DMAC) has been upgraded by Wall Street Zen from a "sell" rating to a "hold" rating, reflecting a positive outlook among analysts.
• HC Wainwright and Lake Street Capital have both issued "buy" ratings for the stock, with target prices ranging from $12.00 to $14.00, while the consensus target price is set at $12.33.
• Insider activity includes major shareholder Jan Stahlberg acquiring 1.54 million shares and increasing their position by 29.55%, indicating strong insider confidence in the company's future.

DiaMedica Therapeutics (NASDAQ:DMAC - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a note issued to investors on Wednesday.

DMAC has been the subject of a number of other research reports. HC Wainwright reissued a "buy" rating and set a $12.00 target price on shares of DiaMedica Therapeutics in a research report on Friday, August 15th. 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. Finally, Craig Hallum increased their target price on shares of DiaMedica Therapeutics from $8.00 to $11.00 and gave the stock a "buy" rating in a research report on Friday, July 18th. Three investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, DiaMedica Therapeutics currently has a consensus rating of "Buy" and a consensus price target of $12.33.

DiaMedica Therapeutics Trading Up 0.7%

Shares of DMAC stock opened at $7.21 on Wednesday. The firm has a 50-day moving average price of $4.97 and a 200 day moving average price of $4.54. DiaMedica Therapeutics has a twelve month low of $3.19 and a twelve month high of $7.49. The company has a market capitalization of $372.68 million, a price-to-earnings ratio of -10.45 and a beta of 1.40.

DiaMedica Therapeutics (NASDAQ:DMAC - Get Free Report) last announced its earnings results on Tuesday, August 12th. The company reported ($0.18) earnings per share for the quarter, meeting the consensus estimate of ($0.18). As a group, research analysts predict that DiaMedica Therapeutics will post -0.59 earnings per share for the current year.

Insider Activity at DiaMedica Therapeutics

In other news, major shareholder Jan Stahlberg acquired 1,542,857 shares of DiaMedica Therapeutics stock in a transaction that occurred on Wednesday, July 23rd. The shares were purchased at an average cost of $3.50 per share, for a total transaction of $5,399,999.50. Following the completion of the purchase, the insider directly owned 6,764,465 shares of the company's stock, valued at $23,675,627.50. This trade represents a 29.55% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In the last three months, insiders purchased 2,542,857 shares of company stock worth $11,358,598. Corporate insiders own 7.30% of the company's stock.

Institutional Investors Weigh In On DiaMedica Therapeutics

A number of hedge funds have recently added to or reduced their stakes in DMAC. Cornerstone Wealth Management LLC acquired a new position in shares of DiaMedica Therapeutics during the first quarter valued at $62,000. Millennium Management LLC increased its holdings in shares of DiaMedica Therapeutics by 151.8% during the fourth quarter. Millennium Management LLC now owns 84,829 shares of the company's stock valued at $461,000 after purchasing an additional 51,139 shares during the period. Jane Street Group LLC acquired a new position in shares of DiaMedica Therapeutics during the fourth quarter valued at $229,000. Northern Trust Corp increased its holdings in shares of DiaMedica Therapeutics by 49.8% during the fourth quarter. Northern Trust Corp now owns 180,192 shares of the company's stock valued at $978,000 after purchasing an additional 59,902 shares during the period. Finally, Balyasny Asset Management L.P. acquired a new position in shares of DiaMedica Therapeutics during the fourth quarter valued at $79,000. 10.12% of the stock is currently owned by institutional investors.

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.

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