DiaMedica Therapeutics (NASDAQ:DMAC) Reaches New 1-Year High - Here's Why

Key Points

• DiaMedica Therapeutics hit a new 52-week high, trading as high as $10.66 and last at $10.745, up from its previous close of $10.00.
• Analyst views are mixed, but MarketBeat’s consensus is “Moderate Buy” with an average price target of $12.00; three analysts rate the stock Buy and one Sell.
• The company reported a quarterly loss of $0.19 per share, slightly better than analysts’ $0.20 loss estimate.

DiaMedica Therapeutics, Inc. (NASDAQ:DMAC - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Wednesday. The company traded as high as $10.66 and last traded at $10.7450, with a volume of 30,542 shares changing hands. The stock had previously closed at $10.00.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. HC Wainwright reaffirmed a "buy" rating and issued a $12.00 target price on shares of DiaMedica Therapeutics in a research report on Tuesday, August 11th. Weiss Ratings reissued a "sell (d-)" rating on shares of DiaMedica Therapeutics in a report on Thursday, October 15th. Finally, Wall Street Zen raised shares of DiaMedica Therapeutics from a "sell" rating to a "hold" rating in a report on Saturday, October 24th. Three equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $12.00.

DiaMedica Therapeutics Stock Performance

The business has a 50 day simple moving average of $7.73 and a 200-day simple moving average of $7.14. The stock has a market capitalization of $575.92 million, a P/E ratio of -14.88 and a beta of 0.95.

DiaMedica Therapeutics (NASDAQ:DMAC - Get Free Report) last issued its quarterly earnings results on Monday, August 10th. The company reported ($0.19) earnings per share for the quarter, beating analysts' consensus estimates of ($0.20) by $0.01. Equities research analysts forecast that DiaMedica Therapeutics, Inc. will post -0.84 EPS for the current fiscal year.

Institutional Trading of DiaMedica Therapeutics

A number of hedge funds have recently modified their holdings of the business. Squarepoint Ops LLC purchased a new position in DiaMedica Therapeutics during the second quarter valued at approximately $1,023,000. Bank of New York Mellon Corp acquired a new stake in shares of DiaMedica Therapeutics in the 2nd quarter valued at $829,000. Sei Investments Co. lifted its stake in shares of DiaMedica Therapeutics by 100.0% in the 1st quarter. Sei Investments Co. now owns 111,320 shares of the company's stock valued at $754,000 after purchasing an additional 55,660 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in shares of DiaMedica Therapeutics in the 1st quarter valued at $356,000. Finally, AWM Investment Company Inc. bought a new stake in DiaMedica Therapeutics in the second quarter worth $253,000. Hedge funds and other institutional investors own 10.12% of the company's stock.

About DiaMedica Therapeutics

DiaMedica Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing treatments for serious diseases affecting the kidneys and nervous system. The company's research is centered on therapies intended to address conditions with limited treatment options.

DiaMedica's lead investigational product is DM199, a recombinant form of human tissue kallikrein-1, an enzyme involved in blood flow regulation and vascular function. The company has evaluated DM199 in clinical development programs targeting acute ischemic stroke and kidney-related diseases, including chronic kidney disease.

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