DiaMedica Therapeutics (NASDAQ:DMAC) Stock Price Up 13.9% – What’s Next?

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

Analysts Set New Price Targets

A number of brokerages recently issued reports on DMAC. HC Wainwright reissued a “buy” rating and issued a $12.00 target price on shares of DiaMedica Therapeutics in a research report on Tuesday, August 11th. Wall Street Zen raised shares of DiaMedica Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, October 24th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of DiaMedica Therapeutics in a research report on Thursday, October 15th. Three research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, DiaMedica Therapeutics currently has an average rating of “Moderate Buy” and an average target price of $12.00.

DiaMedica Therapeutics Stock Performance

The stock has a market capitalization of $498.82 million, a PE ratio of -12.85 and a beta of 0.92. The business’s 50-day moving average is $7.55 and its two-hundred day moving average is $7.13.

DiaMedica Therapeutics (NASDAQ:DMAC) last announced its quarterly earnings data on Monday, August 10th. The company reported ($0.19) EPS for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.01. Equities analysts forecast that DiaMedica Therapeutics, Inc. will post -0.84 EPS for the current year.

Hedge Funds Weigh In On DiaMedica Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in DMAC. Squarepoint Ops LLC acquired a new position in DiaMedica Therapeutics during the second quarter worth $1,023,000. Bank of New York Mellon Corp purchased a new stake in DiaMedica Therapeutics during the second quarter worth about $829,000. Sei Investments Co. boosted its holdings in DiaMedica Therapeutics by 100.0% during the first quarter. Sei Investments Co. now owns 111,320 shares of the company’s stock worth $754,000 after buying an additional 55,660 shares in the last quarter. Renaissance Technologies LLC acquired a new position in DiaMedica Therapeutics during the first quarter worth about $356,000. Finally, Bank of America Corp DE increased its holdings in DiaMedica Therapeutics by 62.5% in the first quarter. Bank of America Corp DE now owns 42,768 shares of the company’s stock valued at $290,000 after buying an additional 16,446 shares in the last quarter. 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.