DiaMedica Therapeutics (NASDAQ:DMAC) Upgraded by Wall Street Zen to "Hold" Rating

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.

Wall Street Zen upgraded shares of DiaMedica Therapeutics (NASDAQ:DMAC - Free Report) from a sell rating to a hold rating in a report issued on Wednesday.

DMAC has been the topic of several other reports. Craig Hallum raised their price target on DiaMedica Therapeutics from $8.00 to $11.00 and gave the stock a "buy" rating in a research report on Friday, July 18th. HC Wainwright reiterated a "buy" rating and set a $12.00 target price on shares of DiaMedica Therapeutics in a report on Friday, August 15th. Finally, Lake Street Capital lifted their target price on DiaMedica Therapeutics from $11.00 to $14.00 and gave the stock a "buy" rating in a report on Friday, July 18th. Three investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $12.33.

DiaMedica Therapeutics Trading Down 2.6%

Shares of NASDAQ:DMAC traded down $0.19 during midday trading on Wednesday, hitting $7.09. The company had a trading volume of 418,976 shares, compared to its average volume of 429,682. DiaMedica Therapeutics has a 12 month low of $3.19 and a 12 month high of $7.49. The stock has a market cap of $366.48 million, a price-to-earnings ratio of -10.28 and a beta of 1.40. The firm has a fifty day simple moving average of $5.19 and a 200 day simple moving average of $4.55.

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

Insiders Place Their Bets

In other news, major shareholder Jan Stahlberg purchased 1,542,857 shares of the business's stock in a transaction dated Wednesday, July 23rd. The shares were bought at an average cost of $3.50 per share, for a total transaction of $5,399,999.50. Following the completion of the acquisition, the insider directly owned 6,764,465 shares in the company, valued at approximately $23,675,627.50. This trade represents a 29.55% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders bought 2,542,857 shares of company stock worth $11,358,598 in the last 90 days. Insiders own 7.30% of the company's stock.

Institutional Investors Weigh In On DiaMedica Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP raised its position in DiaMedica Therapeutics by 14.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 19,339 shares of the company's stock valued at $105,000 after buying an additional 2,380 shares during the last quarter. BNP Paribas Financial Markets raised its position in 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 during the last quarter. World Investment Advisors raised its position in DiaMedica Therapeutics by 17.0% in the 1st quarter. World Investment Advisors now owns 25,650 shares of the company's stock valued at $97,000 after buying an additional 3,735 shares during the last quarter. Police & Firemen s Retirement System of New Jersey acquired a new stake in DiaMedica Therapeutics in the 2nd quarter valued at approximately $29,000. Finally, Bank of America Corp DE raised its position in DiaMedica Therapeutics by 3,710.3% in the 2nd quarter. Bank of America Corp DE now owns 8,497 shares of the company's stock valued at $33,000 after buying an additional 8,274 shares during the last quarter. Institutional investors and hedge funds own 10.12% of the company's stock.

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.