HC Wainwright Forecasts Strong Price Appreciation for DiaMedica Therapeutics (NASDAQ:DMAC) Stock

DiaMedica Therapeutics (NASDAQ:DMAC) had its target price boosted by equities researchers at HC Wainwright from $7.00 to $10.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. HC Wainwright’s price objective suggests a potential upside of 94.55% from the company’s previous close.

DiaMedica Therapeutics Stock Down 1.9 %

DMAC opened at $5.14 on Wednesday. DiaMedica Therapeutics has a 52 week low of $2.14 and a 52 week high of $6.82. The business has a fifty day simple moving average of $5.94 and a 200-day simple moving average of $5.10. The firm has a market cap of $219.79 million, a P/E ratio of -9.18 and a beta of 1.52.

DiaMedica Therapeutics (NASDAQ:DMAC) last released its quarterly earnings results on Monday, March 17th. The company reported ($0.18) EPS for the quarter, missing the consensus estimate of ($0.17) by ($0.01). Sell-side analysts expect that DiaMedica Therapeutics will post -0.59 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of DMAC. Point72 Asia Singapore Pte. Ltd. purchased a new position in DiaMedica Therapeutics in the third quarter valued at $40,000. Balyasny Asset Management L.P. purchased a new position in DiaMedica Therapeutics in the fourth quarter valued at $79,000. Y Intercept Hong Kong Ltd purchased a new position in DiaMedica Therapeutics in the fourth quarter valued at $81,000. Raymond James Financial Inc. purchased a new position in DiaMedica Therapeutics in the fourth quarter valued at $83,000. Finally, Bank of Montreal Can purchased a new position in DiaMedica Therapeutics in the fourth quarter valued at $84,000. 10.12% of the stock is currently 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.