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

Key Points

• DiaMedica Therapeutics (NASDAQ: DMAC) was upgraded from a "sell" rating to a "hold" rating by Wall Street Zen, reflecting a more favorable outlook for the stock.
• Analysts from Craig Hallum and Lake Street Capital raised their price targets for DiaMedica to $11.00 and $14.00, respectively, both assigning "buy" ratings to the stock.
• Major shareholder Jan Stahlberg increased his stake by purchasing over 1.5 million shares at approximately $3.50 each, which represents a significant boost in his ownership of the company.

Wall Street Zen upgraded shares of DiaMedica Therapeutics (NASDAQ:DMAC - Free Report) from a sell rating to a hold rating in a research note published on Monday morning.

Several other brokerages also recently commented on DMAC. Craig Hallum increased their price objective on shares of DiaMedica Therapeutics from $8.00 to $11.00 and gave the company a "buy" rating in a research report on Friday, July 18th. HC Wainwright reissued a "buy" rating and set a $12.00 price objective on shares of DiaMedica Therapeutics in a research report on Friday, August 15th. Finally, Lake Street Capital increased their price objective 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. Three research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $12.33.

DiaMedica Therapeutics Stock Performance

Shares of DiaMedica Therapeutics stock traded down $0.11 during trading on Monday, hitting $5.87. The company's stock had a trading volume of 307,921 shares, compared to its average volume of 183,851. The company has a fifty day simple moving average of $4.57 and a two-hundred day simple moving average of $4.58. The company has a market capitalization of $303.41 million, a PE ratio of -8.51 and a beta of 1.25. DiaMedica Therapeutics has a 52 week low of $3.19 and a 52 week high of $6.82.

DiaMedica Therapeutics (NASDAQ:DMAC - Get Free Report) last issued 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). As a group, analysts predict that DiaMedica Therapeutics will post -0.59 EPS for the current year.

Insider Activity

In other DiaMedica Therapeutics news, major shareholder Jan Stahlberg acquired 1,542,857 shares of the company's stock in a transaction that occurred on Wednesday, July 23rd. The shares were bought at an average price of $3.50 per share, with a total value of $5,399,999.50. Following the completion of the acquisition, the insider owned 6,764,465 shares in the company, valued at $23,675,627.50. This represents a 29.55% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 7.30% of the company's stock.

Institutional Trading of DiaMedica Therapeutics

Hedge funds have recently bought and sold shares of the stock. Police & Firemen s Retirement System of New Jersey bought a new position in shares of DiaMedica Therapeutics in the second quarter worth about $29,000. Bank of America Corp DE raised 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 acquiring an additional 8,274 shares during the period. JPMorgan Chase & Co. purchased a new position in DiaMedica Therapeutics during the second quarter valued at approximately $49,000. Invesco Ltd. bought a new position in shares of DiaMedica Therapeutics in the second quarter worth approximately $54,000. Finally, Intech Investment Management LLC bought a new position in shares of DiaMedica Therapeutics in the second quarter worth approximately $56,000. Institutional investors 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.