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

DiaMedica Therapeutics (NASDAQ:DMAC) had its target price lifted by equities research analysts at HC Wainwright from $10.00 to $12.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. HC Wainwright’s price objective points to a potential upside of 187.08% from the stock’s previous close.

DiaMedica Therapeutics Price Performance

Shares of DMAC opened at $4.18 on Friday. The business’s fifty day moving average price is $3.93 and its 200 day moving average price is $4.68. DiaMedica Therapeutics has a 12-month low of $3.19 and a 12-month high of $6.82. The stock has a market capitalization of $179.24 million, a PE ratio of -6.53 and a beta of 1.17.

DiaMedica Therapeutics (NASDAQ:DMAC) last posted its earnings results on Tuesday, May 13th. The company reported ($0.18) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.18). During the same period in the prior year, the firm earned ($0.14) earnings per share. As a group, research analysts anticipate that DiaMedica Therapeutics will post -0.59 earnings per share for the current fiscal year.

Hedge Funds Weigh In On DiaMedica Therapeutics

A number of institutional investors have recently bought and sold shares of the stock. Cornerstone Wealth Management LLC acquired a new stake in shares of DiaMedica Therapeutics during the 1st quarter valued at about $62,000. Balyasny Asset Management L.P. acquired a new stake in shares of DiaMedica Therapeutics in the fourth quarter worth $79,000. Raymond James Financial Inc. acquired a new stake in shares of DiaMedica Therapeutics in the fourth quarter worth $83,000. Bank of Montreal Can acquired a new stake in DiaMedica Therapeutics during the fourth quarter worth $84,000. Finally, World Investment Advisors boosted its stake in DiaMedica Therapeutics by 17.0% during the first quarter. World Investment Advisors now owns 25,650 shares of the company’s stock worth $97,000 after buying an additional 3,735 shares in the last quarter. Hedge funds and other 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.