Zacks Investment Research Lowers DiaMedica Therapeutics (NASDAQ:DMAC) to Hold

Zacks Investment Research downgraded shares of DiaMedica Therapeutics (NASDAQ:DMACGet Rating) from a buy rating to a hold rating in a research report report published on Friday morning, Zacks.com reports.

According to Zacks, “DiaMedica Therapeutics Inc. is a biopharmaceutical company. It engages in the development of novel recombinant proteins and monoclonal antibodies. The companys lead product principally consists DM199, a recombinant human tissue kallikrein-1 protein. It operates primarily in the United States and Canada. DiaMedica Therapeutics Inc. is headquartered in Minneapolis, Minnesota. “

Shares of NASDAQ:DMAC opened at $2.25 on Friday. The firm has a market cap of $59.50 million, a PE ratio of -3.52 and a beta of 2.42. The firm’s fifty day moving average is $2.67 and its 200-day moving average is $3.36. DiaMedica Therapeutics has a 52 week low of $2.20 and a 52 week high of $9.96.

DiaMedica Therapeutics (NASDAQ:DMACGet Rating) last issued its quarterly earnings results on Monday, March 14th. The company reported ($0.10) EPS for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.06. During the same quarter last year, the business posted ($0.23) EPS. Research analysts anticipate that DiaMedica Therapeutics will post -1.03 earnings per share for the current fiscal year.

A number of hedge funds have recently added to or reduced their stakes in DMAC. Dimensional Fund Advisors LP acquired a new position in DiaMedica Therapeutics in the fourth quarter valued at $44,000. Jump Financial LLC acquired a new position in shares of DiaMedica Therapeutics during the third quarter valued at about $73,000. Millennium Management LLC acquired a new position in shares of DiaMedica Therapeutics during the fourth quarter valued at about $83,000. Morgan Stanley raised its holdings in shares of DiaMedica Therapeutics by 21.6% during the second quarter. Morgan Stanley now owns 23,627 shares of the company’s stock valued at $105,000 after purchasing an additional 4,202 shares during the period. Finally, State Street Corp acquired a new position in shares of DiaMedica Therapeutics during the second quarter valued at about $134,000. Institutional investors and hedge funds own 35.20% of the company’s stock.

DiaMedica Therapeutics Company Profile (Get Rating)

DiaMedica Therapeutics, Inc operates as a clinical stage biopharmaceutical company, which engages in the development of novel recombinant proteins. It develops the DM199 product candidate, which focuses on acute ischemic stroke (AIS) and chronic kidney disease (CKD). The company was founded by Wayne Lautt on January 21, 2000 and is headquartered in Minneapolis, MN.

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