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

DiaMedica Therapeutics (NASDAQ:DMAC)‘s stock had its “buy” rating reissued by stock analysts at HC Wainwright in a report issued on Friday,Benzinga reports. They currently have a $12.00 price target on the stock. HC Wainwright’s target price would suggest a potential upside of 99.00% from the company’s previous close.

DMAC has been the topic of several other reports. Craig Hallum increased their target price on shares of DiaMedica Therapeutics from $8.00 to $11.00 and gave the stock a “buy” rating in a research note on Friday, July 18th. Lake Street Capital increased their target price on shares of DiaMedica Therapeutics from $11.00 to $14.00 and gave the stock a “buy” rating in a research note on Friday, July 18th.

DiaMedica Therapeutics Stock Performance

Shares of DMAC opened at $6.03 on Friday. The business’s 50-day moving average is $4.24 and its two-hundred day moving average is $4.57. The company has a market capitalization of $311.69 million, a P/E ratio of -8.74 and a beta of 1.25. DiaMedica Therapeutics has a fifty-two week low of $3.19 and a fifty-two week high of $6.82.

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

Insiders Place Their Bets

In related news, major shareholder Jan Stahlberg purchased 1,542,857 shares of the firm’s stock in a transaction that occurred on Wednesday, July 23rd. The shares were purchased at an average cost of $3.50 per share, with a total value of $5,399,999.50. Following the purchase, the insider owned 6,764,465 shares of the company’s stock, valued at $23,675,627.50. This represents a 29.55% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 7.30% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of DMAC. Police & Firemen s Retirement System of New Jersey purchased a new position in DiaMedica Therapeutics in the 2nd quarter worth approximately $29,000. Bank of America Corp DE lifted its stake 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 worth $33,000 after purchasing an additional 8,274 shares in the last quarter. JPMorgan Chase & Co. purchased a new position in DiaMedica Therapeutics in the 2nd quarter worth approximately $49,000. Invesco Ltd. purchased a new position in DiaMedica Therapeutics in the 2nd quarter worth approximately $54,000. Finally, Intech Investment Management LLC purchased a new position in DiaMedica Therapeutics in the 2nd quarter worth approximately $56,000. 10.12% of the stock is owned by hedge funds and other institutional investors.

DiaMedica Therapeutics Company Profile

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.