DiaMedica Therapeutics (NASDAQ:DMAC) Stock Price Up 13.9% – Still a Buy?

DiaMedica Therapeutics, Inc. (NASDAQ:DMAC)’s share price traded up 13.9% during trading on Wednesday. The stock traded as high as $10.09 and last traded at $9.90. Approximately 317,795 shares traded hands during trading, an increase of 59% from the average session volume of 199,410 shares. The stock had previously closed at $8.69.

Analysts Set New Price Targets

A number of analysts have recently weighed in on DMAC shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of DiaMedica Therapeutics in a research note on Thursday, October 15th. HC Wainwright reiterated a “buy” rating and set a $12.00 price objective on shares of DiaMedica Therapeutics in a research note on Tuesday, August 11th. Finally, Wall Street Zen raised DiaMedica Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday. Four investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, DiaMedica Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $12.00.

DiaMedica Therapeutics Stock Up 13.1%

The company has a market capitalization of $530.13 million, a price-to-earnings ratio of -13.56 and a beta of 0.92. The company has a 50-day moving average price of $7.44 and a 200-day moving average price of $7.11.

DiaMedica Therapeutics (NASDAQ:DMAC) last issued its quarterly earnings results on Monday, August 10th. The company reported ($0.19) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.20) by $0.01. Equities analysts expect that DiaMedica Therapeutics, Inc. will post -0.84 EPS for the current fiscal year.

Hedge Funds Weigh In On DiaMedica Therapeutics

Several hedge funds have recently added to or reduced their stakes in DMAC. Squarepoint Ops LLC bought a new position in DiaMedica Therapeutics during the 2nd quarter worth approximately $1,023,000. AWM Investment Company Inc. acquired a new position in shares of DiaMedica Therapeutics during the second quarter worth about $253,000. Bank of New York Mellon Corp acquired a new stake in shares of DiaMedica Therapeutics in the second quarter valued at approximately $829,000. Bank of America Corp DE lifted its position in DiaMedica Therapeutics by 62.5% during the 1st quarter. Bank of America Corp DE now owns 42,768 shares of the company’s stock worth $290,000 after buying an additional 16,446 shares in the last quarter. Finally, Renaissance Technologies LLC acquired a new position in DiaMedica Therapeutics during the first quarter valued at approximately $356,000. Institutional investors and hedge funds own 10.12% of the company’s stock.

DiaMedica Therapeutics Company Profile

DiaMedica Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing treatments for serious diseases affecting the kidneys and nervous system. The company’s research is centered on therapies intended to address conditions with limited treatment options.

DiaMedica’s lead investigational product is DM199, a recombinant form of human tissue kallikrein-1, an enzyme involved in blood flow regulation and vascular function. The company has evaluated DM199 in clinical development programs targeting acute ischemic stroke and kidney-related diseases, including chronic kidney disease.