DelMar Pharmaceuticals, Inc. (NASDAQ:DMPI) reached a new 52-week low on Wednesday . The stock traded as low as $1.19 and last traded at $1.20, with a volume of 55,409 shares. The stock had previously closed at $1.28.

DMPI has been the subject of several research analyst reports. Maxim Group set a $11.00 price objective on shares of DelMar Pharmaceuticals and gave the stock a “buy” rating in a report on Thursday, May 25th. HC Wainwright reaffirmed a “buy” rating and issued a $12.00 price objective on shares of DelMar Pharmaceuticals in a report on Tuesday, May 30th. Finally, Dawson James reaffirmed a “buy” rating on shares of DelMar Pharmaceuticals in a report on Tuesday, August 8th.

The firm has a 50 day moving average of $1.67 and a 200-day moving average of $2.69.

An institutional investor recently bought a new position in DelMar Pharmaceuticals stock. Franklin Resources Inc. bought a new position in shares of DelMar Pharmaceuticals, Inc. (NASDAQ:DMPI) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 1,076,923 shares of the company’s stock, valued at approximately $2,477,000. 13.84% of the stock is currently owned by institutional investors.

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DelMar Pharmaceuticals Company Profile

DelMar Pharmaceuticals, Inc is a clinical-stage drug development company. The Company focuses on the treatment of cancer. The Company is engaged in conducting clinical trials in the United States with its product candidate, VAL-083, as a treatment for glioblastoma multiforme (GBM), a form of brain cancer.

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