HC Wainwright Issues Positive Forecast for DiaMedica Therapeutics (NASDAQ:DMAC) Stock Price

DiaMedica Therapeutics (NASDAQ:DMAC) had its price target lifted by research analysts at HC Wainwright from $7.00 to $10.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. HC Wainwright’s price objective would indicate a potential upside of 94.55% from the company’s previous close.

DiaMedica Therapeutics Stock Performance

DiaMedica Therapeutics stock opened at $5.14 on Wednesday. DiaMedica Therapeutics has a fifty-two week low of $2.14 and a fifty-two week high of $6.82. The company has a market capitalization of $219.79 million, a P/E ratio of -9.18 and a beta of 1.52. The stock has a 50-day simple moving average of $5.94 and a 200-day simple moving average of $5.10.

DiaMedica Therapeutics (NASDAQ:DMAC) last posted its earnings results on Monday, March 17th. The company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of ($0.17) by ($0.01). As a group, analysts forecast that DiaMedica Therapeutics will post -0.59 earnings per share for the current year.

Institutional Trading of DiaMedica Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. OMERS ADMINISTRATION Corp purchased a new stake in DiaMedica Therapeutics during the 4th quarter valued at approximately $122,000. Millennium Management LLC raised its stake in DiaMedica Therapeutics by 151.8% during the 4th quarter. Millennium Management LLC now owns 84,829 shares of the company’s stock valued at $461,000 after acquiring an additional 51,139 shares during the last quarter. Balyasny Asset Management L.P. purchased a new stake in DiaMedica Therapeutics during the 4th quarter valued at approximately $79,000. 683 Capital Management LLC purchased a new stake in DiaMedica Therapeutics during the 4th quarter valued at approximately $413,000. Finally, Jane Street Group LLC purchased a new stake in DiaMedica Therapeutics during the 4th quarter valued at approximately $229,000. 10.12% of the stock is owned by hedge funds and other institutional investors.

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.