HC Wainwright Reaffirms Buy Rating for DiaMedica Therapeutics (NASDAQ:DMAC)

Key Points

• HC Wainwright reaffirmed its Buy rating on DiaMedica Therapeutics and maintained a $12 price target, implying approximately 74.8% upside from the stock’s $6.87 price.
• Analyst sentiment is broadly positive: four analysts rate DMAC a Buy and one rates it a Sell, producing a consensus “Moderate Buy” rating and a $12 average target price.
• DiaMedica reported a quarterly loss of $0.19 per share, slightly better than the $0.20 expected loss. The clinical-stage biopharmaceutical company is developing DM199 for conditions including acute ischemic stroke.

DiaMedica Therapeutics (NASDAQ:DMAC - Get Free Report)'s stock had its "buy" rating restated by research analysts at HC Wainwright in a report issued on Tuesday,Benzinga reports. They currently have a $12.00 price objective on the stock. HC Wainwright's target price indicates a potential upside of 74.80% from the company's current price.

A number of other research analysts have also recently issued reports on DMAC. Wall Street Zen raised DiaMedica Therapeutics from a "strong sell" rating to a "sell" rating in a report on Saturday, June 6th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of DiaMedica Therapeutics in a report on Friday, July 17th. Four analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $12.00.

DiaMedica Therapeutics Trading Up 3.2%

NASDAQ DMAC traded up $0.21 on Tuesday, reaching $6.87. The company's stock had a trading volume of 31,613 shares, compared to its average volume of 203,553. DiaMedica Therapeutics has a 52 week low of $4.63 and a 52 week high of $10.42. The firm has a market cap of $369.89 million, a PE ratio of -9.69 and a beta of 1.01. The business has a 50-day moving average price of $6.61 and a 200 day moving average price of $6.95.

DiaMedica Therapeutics (NASDAQ:DMAC - Get Free Report) last announced its quarterly earnings results on Monday, August 10th. The company reported ($0.19) EPS for the quarter, topping analysts' consensus estimates of ($0.20) by $0.01. Analysts anticipate that DiaMedica Therapeutics will post -0.86 earnings per share for the current fiscal year.

Institutional Investors Weigh In On DiaMedica Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the company. Members Wealth LLC bought a new stake in shares of DiaMedica Therapeutics during the 4th quarter valued at $864,000. Bank of America Corp DE increased its holdings in DiaMedica Therapeutics by 62.5% in the first quarter. Bank of America Corp DE now owns 42,768 shares of the company's stock valued at $290,000 after purchasing an additional 16,446 shares during the last quarter. Renaissance Technologies LLC acquired a new position in DiaMedica Therapeutics in the first quarter valued at about $356,000. Sei Investments Co. boosted its holdings in DiaMedica Therapeutics by 100.0% during the first quarter. Sei Investments Co. now owns 111,320 shares of the company's stock worth $754,000 after buying an additional 55,660 shares during the last quarter. Finally, Russell Investments Group Ltd. acquired a new position in shares of DiaMedica Therapeutics during the 3rd quarter worth about $27,000. Institutional investors own 10.12% of the company's stock.

DiaMedica Therapeutics Company Profile

DiaMedica Therapeutics, Inc NASDAQ: DMAC is a clinical‐stage biopharmaceutical company focused on developing novel therapies for acute and chronic central nervous system conditions. The company's lead product candidate, DM199, is a recombinant form of human tissue kallikrein-1 designed to promote neuroprotection and tissue repair through modulation of the kallikrein‐kinin system. DiaMedica's research and development efforts are centered on translating the regenerative potential of DM199 into effective treatments for disorders with high unmet medical need.

DM199 is being evaluated in acute ischemic stroke, where preclinical studies have demonstrated potential benefits in blood flow restoration, inflammation reduction and neuronal survival.

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