DiaMedica Therapeutics (NASDAQ:DMAC) Rating Increased to Buy at Zacks Investment Research

DiaMedica Therapeutics (NASDAQ:DMAC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday, Zacks.com reports. The brokerage currently has a $4.50 target price on the stock. Zacks Investment Research‘s price objective indicates a potential upside of 7.66% from the company’s previous close.

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. “

Other analysts also recently issued research reports about the stock. Roth Capital dropped their target price on shares of DiaMedica Therapeutics from $32.00 to $24.00 and set a “buy” rating on the stock in a research report on Monday, September 27th. Maxim Group decreased their target price on shares of DiaMedica Therapeutics from $14.00 to $11.00 and set a “buy” rating for the company in a research note on Wednesday, June 30th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $18.64.

DiaMedica Therapeutics stock opened at $4.18 on Tuesday. The firm has a 50-day moving average price of $3.89 and a 200-day moving average price of $5.95. The firm has a market capitalization of $78.53 million, a PE ratio of -5.36 and a beta of 2.50. DiaMedica Therapeutics has a 12-month low of $3.00 and a 12-month high of $10.88.

DiaMedica Therapeutics (NASDAQ:DMAC) last announced its quarterly earnings data on Wednesday, August 11th. The company reported ($0.17) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.02. Equities analysts forecast that DiaMedica Therapeutics will post -0.8 EPS for the current year.

In other DiaMedica Therapeutics news, Director Richard D. Pilnik bought 15,000 shares of DiaMedica Therapeutics stock in a transaction on Monday, August 16th. The stock was bought at an average price of $3.27 per share, with a total value of $49,050.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Harry W. Alcorn, Jr. bought 20,322 shares of DiaMedica Therapeutics stock in a transaction on Monday, August 16th. The stock was acquired at an average cost of $3.09 per share, with a total value of $62,794.98. The disclosure for this purchase can be found here. Insiders acquired 55,322 shares of company stock worth $184,545 over the last quarter. 6.70% of the stock is currently owned by insiders.

Several large investors have recently modified their holdings of DMAC. Marshall Wace LLP grew its holdings in shares of DiaMedica Therapeutics by 104.9% during the 2nd quarter. Marshall Wace LLP now owns 155,662 shares of the company’s stock worth $693,000 after purchasing an additional 79,695 shares during the period. Corriente Advisors LLC lifted its position in DiaMedica Therapeutics by 7.8% during the 1st quarter. Corriente Advisors LLC now owns 870,228 shares of the company’s stock worth $7,963,000 after acquiring an additional 63,328 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of DiaMedica Therapeutics by 35.0% in the 1st quarter. Renaissance Technologies LLC now owns 153,100 shares of the company’s stock valued at $1,401,000 after purchasing an additional 39,700 shares in the last quarter. Bank of Montreal Can raised its position in shares of DiaMedica Therapeutics by 36.7% in the 2nd quarter. Bank of Montreal Can now owns 142,846 shares of the company’s stock valued at $694,000 after purchasing an additional 38,322 shares in the last quarter. Finally, Squarepoint Ops LLC acquired a new position in shares of DiaMedica Therapeutics in the 1st quarter valued at approximately $325,000. Institutional investors and hedge funds own 18.68% of the company’s stock.

DiaMedica Therapeutics Company Profile

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.

Further Reading: Cash Asset Ratio

Get a free copy of the Zacks research report on DiaMedica Therapeutics (DMAC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for DiaMedica Therapeutics (NASDAQ:DMAC)

Receive News & Ratings for DiaMedica Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for DiaMedica Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.